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|z 9781475532814
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Malloy, Matthew.
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|a Factors Influencing Emerging Market Central Banks' Decision to Intervene in Foreign Exchange Markets /
|c Matthew Malloy.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2013.
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| 300 |
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|a 1 online resource (28 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a Using panel data for 15 economies from 2001-12, I identify determinants of central bank foreign exchange intervention in emerging markets ('EMs') with flexible to moderately managed exchange rates. Similar to other studies, I find that central banks tend to 'lean against the wind,' buying/selling more foreign exchange in response to greater short-run and medium-run appreciation/depreciation pressures. The panel structure provides a framework to test whether other macroeconomic variables influence the different rates of reserve accumulation between economies. In testing other variables, I find evidence of both precautionary and external competitiveness motives for reserve accumulation.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2013/070
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2013/070/001.2013.issue-070-en.xml
|z IMF e-Library
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