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...

תיאור מלא

מידע ביבליוגרפי
מחבר ראשי: Dutta, Jayasri
פורמט: כתב-עת
שפה:English
יצא לאור: Washington, D.C. : International Monetary Fund, 2002.
סדרה:IMF Working Papers; Working Paper ; No. 2002/063
גישה מקוונת:Full text available on IMF
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100 1 |a Dutta, Jayasri. 
245 1 0 |a Dread of Depreciation :   |b Measuring Real Exchange Rate Interventions /  |c Jayasri Dutta. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2002. 
300 |a 1 online resource (36 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
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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830 0 |a IMF Working Papers; Working Paper ;  |v No. 2002/063 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2002/063/001.2002.issue-063-en.xml  |z IMF e-Library