Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Does Foreign Exchange Intervention Work?

Does Foreign Exchange Intervention Work?

Dominguez, Kathryn
Frankel, Jeffrey

Paperback

EconomicsInvesting & Finance

ISBN10: 0881321044
ISBN13: 9780881321043
Publisher: Peterson Inst For Intl Economi
Published: Sep 1 1993
Pages: 192
Weight: 0.62
Height: 0.42 Width: 6.11 Depth: 9.14
Language: English
How much impact on exchange rates do central banks have when they buy and sell currencies? According to many analysts, such intervention has no independent impact. This book challenges the conventional wisdom, demonstrating that such intervention can be an effective and extremely important tool for policymakers. Using previously unavailable daily intervention data from the US Federal Reserve and German Bundesbank, the authors show that even sterilized intervention -intervention that entails no corresponding changes in monetary policy- has a significant effect. A key element is whether the intervention is known to the public: widespread market awareness of the activity adds substantially to its payoff. Authors Dominguez and Frankel draw implications for intervention policy and its role in international economic policy coordination.

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