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The Rise and Fall of Foreign Exchange Market Intervention as a Policy Tool

✍ Scribed by Anna J. Schwartz

Book ID
111565078
Publisher
Springer
Year
2000
Tongue
English
Weight
141 KB
Volume
18
Category
Article
ISSN
0920-8550

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πŸ“œ SIMILAR VOLUMES

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## Abstract This paper examines the historical precedents of US exchange market intervention. Before 1934 we describe operations by the Second Bank of the United States, the US Treasury and the Federal Reserve. We then examine the operations of the Exchange Stabilization Fund, created in 1934 as a

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## Abstract This paper combines policy response explanations of the uncovered interest parity puzzle with a time series approach that accounts for discrete central bank interventions. When monetary authorities manage the interest rate differential through an anti‐inflationary policy rule, which all

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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