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Sterilization policy: The trade-off between monetary autonomy and control over foreign exchange reserves

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  • Herring, Richard J.
  • Marston, Richard C.

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  • Herring, Richard J. & Marston, Richard C., 1977. "Sterilization policy: The trade-off between monetary autonomy and control over foreign exchange reserves," European Economic Review, Elsevier, vol. 10(3), pages 325-343.
    • Handle: RePEc:eee:eecrev:v:10:y:1977:i:3:p:325-343
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    Cited by:

    1. Mandilaras, Alex S., 2015. "The international policy trilemma in the post-Bretton Woods era," Journal of Macroeconomics, Elsevier, vol. 44(C), pages 18-32.
    2. Obstfeld, Maurice, 1983. "Exchange rates, inflation, and the sterilization problem: Germany, 1975-1981," European Economic Review, Elsevier, vol. 21(1-2), pages 161-189.
    3. Aissa DJEDAIET & Hicham AYAD, 2017. "Hard currency inflows and sterilization policy in Algeria: An ARDL approach," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(3(612), A), pages 83-96, Autumn.
    4. Ewe Ghee Lim & Soo Khoon Goh, 2016. "Is Malaysia exempted from the impossible trinity? An empirical analysis for an emerging market," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 9(2), pages 131-147, July.
    5. Gyuhan Kim, 1995. "Exchange rate constraints and money control in Korea," Working Papers 1995-011, Federal Reserve Bank of St. Louis.
    6. Glick, Reuven & Hutchison, Michael M., 2000. "Foreign reserve and money dynamics with asset portfolio adjustment: international evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 10(3-4), pages 229-247, December.
    7. V A Muscatelli & Patrizio Tirelli, 1995. "Institutional Change, Inflation Targets and the Stability of Interest Rate Reaction Functions in OECD Economies"," Working Papers 9606, Business School - Economics, University of Glasgow, revised Apr 1996.
    8. Francesco Giavazzi & Alberto Giovannini, 1988. "Modèles du SME : l'Europe n'est-elle qu'une zone deutsche mark ?," Revue Économique, Programme National Persée, vol. 39(3), pages 641-666.
    9. M. Kabir Hassan & Ashraf Nakibullah, 2008. "Gulf Monetary Union and Regional Integration," Working Papers 453, Economic Research Forum, revised 09 Jan 2008.
    10. M. Kabir Hassan & Ashraf Nakibullah & Abul Hassan, 2013. "Sterilisation and Monetary Control by the GCC Member Countries," The World Economy, Wiley Blackwell, vol. 36(12), pages 1566-1587, December.
    11. Lehment, Harmen, 1980. "Exchange-market interventions and monetary policy: the German experience," Kiel Working Papers 111, Kiel Institute for the World Economy (IfW Kiel).
    12. Ashraf Nakibullah, 2011. "Monetary Policy and Performance of the Oil-Exporting Gulf Cooperation Council Countries," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 10(2), pages 139-157, August.
    13. Nouriel Roubini, 1988. "Offset and Sterilization Under Fixed Exchange Rates With An Optimizing Central Bank," NBER Working Papers 2777, National Bureau of Economic Research, Inc.
    14. Pasula, Kit, 1994. "Sterilization, ricardian equivalence and structural and reduced-form estimates of the offset coefficient," Journal of Macroeconomics, Elsevier, vol. 16(4), pages 683-699.
    15. Lim, Ewe Ghee & Goh, SooKhoon, 2011. "Is Malaysia exempted from impossible trinity: empirical evidence from 1991-2009," MPRA Paper 30804, University Library of Munich, Germany.
    16. Daniels, Joseph, 1997. "Optimal sterilization policies in interdependent economies," Journal of Economics and Business, Elsevier, vol. 49(1), pages 43-60, February.

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