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On the tradeoff between wage indexation and foreign exchange intervention

✍ Scribed by Aizenman, Joshua ;Frenkel, Jacob A.


Book ID
112829384
Publisher
Springer
Year
1985
Tongue
English
Weight
803 KB
Volume
121
Category
Article
ISSN
1610-2924

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THE EFFICACY OF CENTRAL BANK INTERVENTIO
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## Abstract This paper employs conditional probabilities generated from a homogenous two‐state Markov chain to obtain maximum likelihood estimates of the efficacy of central bank intervention on the foreign exchange market in Uganda. This enables us to explicitly model the fact that intervention ac