Dread of Depreciation : Measuring Real Exchange Rate Interventions /

We specify an empirical framework to detect the effects of official intervention on real exchange rate dynamics. Using data for 27 advanced and emerging market economies, we find evidence that interventions are a near-universal practice; almost all countries intervene when real exchange rates deprec...

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Bibliografske podrobnosti
Glavni avtor: Dutta, Jayasri
Format: Revija
Jezik:English
Izdano: Washington, D.C. : International Monetary Fund, 2002.
Serija:IMF Working Papers; Working Paper ; No. 2002/063
Online dostop:Full text available on IMF
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245 1 0 |a Dread of Depreciation :   |b Measuring Real Exchange Rate Interventions /  |c Jayasri Dutta. 
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490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
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520 3 |a We specify an empirical framework to detect the effects of official intervention on real exchange rate dynamics. Using data for 27 advanced and emerging market economies, we find evidence that interventions are a near-universal practice; almost all countries intervene when real exchange rates depreciate; interventions reduce the degree of persistence in real exchange rates; and the defense of an overvalued currency tends to be contractionary. 
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