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Foreign Exchange Interventions Under Inflation Targeting: The Czech Experience Author info | Abstract | Publisher info | Download info | Related research | Statistics Adam Geršl
Tomáš Holub
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This article discusses the role of foreign exchange interventions in the inflation-targeting regime, focusing on the Czech experience since 1998. We find some evidence that the interventions had a statistically significant, but short lived and economically not very important, impact on the koruna's exchange rate and its volatility. We also discuss consistency of the interventions with the inflation-targeting framework. All the Czech intervention episodes are judged to be consistent with the inflation targets and output developments, but for two episodes not fully consistent regarding the mix of monetary conditions. (JEL E42, E44, E52, E58, E65, F31) Copyright 2006, Oxford University Press.
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Article provided by Oxford University Press in its journal Contemporary Economic Policy .
Volume (Year): 24 (2006)
Issue (Month): 4 (October)
Pages: 475-491
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Handle: RePEc:oup:coecpo:v:24:y:2006:i:4:p:475-491Contact details of provider: Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK Fax: 01865 267 985 Email: Web page: http://cep.oupjournals.org/
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
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