Official Intervention in the Foreign Exchange Market : Elements of Best Practice /

This paper offers guidance on the operational aspects of official intervention in the foreign exchange market, particularly in developing countries with flexible exchange rate regimes. A brief survey of the literature and country experience is followed by an analysis of the objectives, timing, amoun...

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מידע ביבליוגרפי
מחבר ראשי: Canales Kriljenko, Jorge
מחברים אחרים: Guimaraes, Roberto, Karacadag, Cem
פורמט: כתב-עת
שפה:English
יצא לאור: Washington, D.C. : International Monetary Fund, 2003.
סדרה:IMF Working Papers; Working Paper ; No. 2003/152
גישה מקוונת:Full text available on IMF
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100 1 |a Canales Kriljenko, Jorge. 
245 1 0 |a Official Intervention in the Foreign Exchange Market :   |b Elements of Best Practice /  |c Jorge Canales Kriljenko, Cem Karacadag, Roberto Guimaraes. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2003. 
300 |a 1 online resource (41 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 This paper offers guidance on the operational aspects of official intervention in the foreign exchange market, particularly in developing countries with flexible exchange rate regimes. A brief survey of the literature and country experience is followed by an analysis of the objectives, timing, amount, degree of transparency, and choice of markets and counterparties in conducting intervention. The analysis highlights the difficulty of detecting exchange rate misalignments and disorderly markets, and argues in favor of parsimony in official intervention. Determining the timing and amount of intervention is a highly subjective excercise, and some degree of discretion is almost necessary, though policy rules may serve as "rules of thumb.". 
538 |a Mode of access: Internet 
700 1 |a Guimaraes, Roberto. 
700 1 |a Karacadag, Cem. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2003/152 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2003/152/001.2003.issue-152-en.xml  |z IMF e-Library