| Author: | Almekenders, G. J. |
| Title: | Empirical evidence on foreign exchange market intervention - where do we stand? |
| Journal: | Weltwirtschaftliches Archiv
1991 : VOL. 127:4, p. 645-677 |
| Index terms: | FOREIGN EXCHANGE MARKET FOREIGN EXCHANGE POLICY |
| Language: | eng |
| Abstract: | The article gives a survey of 15 empirical studies on the goals pursued by central banks in their interventions on foreign exchange markets. Interventionist reactions depend on whether the currency is over- or undervalued relative to purchasing power parity. Studies on the efficiency of interventions demonstrate that only those with a strong information content have a chance to influence the exchange rate. |
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