Latin American foreign exchange intervention - Updated
AbstractWe examine Latin American foreign exchange intervention in a framework where the exchange rate regime is endogenous and there exists an inefficient, equilibrium foreign exchange intervention bias. The model suggests that greater central bank independence is associated with lesser intervention in the foreign exchange market, and also with leaning-against-the-wind intervention. Both results are confirmed by data from 13 Latin American countries.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 1982.
Date of creation: 2007
Date of revision:
foreign exchange intervention; exchange rates; Latin America;
Find related papers by JEL classification:
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- F31 - International Economics - - International Finance - - - Foreign Exchange
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-03-10 (All new papers)
- NEP-IFN-2007-03-10 (International Finance)
- NEP-MON-2007-03-10 (Monetary Economics)
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