haku: @indexterm Economic shocks / yhteensä: 36
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| Tekijä: | Ghosh, A.R. |
| Otsikko: | Central bank secrecy in the foreign exchange market |
| Lehti: | European Economic Review
2002 : FEB,VOL. 46:2, p. 253-272 |
| Asiasana: | CENTRAL BANKS ECONOMIC SHOCKS FOREIGN EXCHANGE |
| Vapaa asiasana: | SECRETS |
| Kieli: | eng |
| Tiivistelmä: | This paper argues that with sticky goods prices and a forward-looking exchange rate, the central bank will only want a partial dissemination of its information about shocks to the economy. It is shown that, in such model, the central bank may prefer to intervene secretly in the foreign exchange markets when responding in anticipation of future shocks, but openly when reacting to current shocks. |
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