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The Exchange Stabilization Fund: how it works

Author

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  • William P. Osterberg
  • James B. Thomson

Abstract

The increasingly controversial Exchange Stabilization Fund is used to influence the international value of the U.S. dollar and to provide aid to foreign countries. The debate surrounding the Fund will become more informed, the authors suggest, when observers understand how to calculate the total amount of resources available to the Fund. This Economic Commentary explains how the Fund's balance sheet figures must be adjusted to produce an accurate account of those resources.

Suggested Citation

  • William P. Osterberg & James B. Thomson, 1999. "The Exchange Stabilization Fund: how it works," Economic Commentary, Federal Reserve Bank of Cleveland, issue Dec.
    • Handle: RePEc:fip:fedcec:y:1999:i:dec
    DOI: 10.26509/frbc-ec-19991201
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    Cited by:

    1. Baillie, Richard T. & Humpage, Owen F. & Osterberg, William P., 2000. "Intervention from an information perspective," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 10(3-4), pages 407-421, December.
    2. Michael D. Bordo & Owen F. Humpage & Anna J. Schwartz, 2016. "On the Evolution of US Foreign-Exchange-Market Intervention: Thesis, Theory, and Institutions," NBER Chapters, in: Strained Relations: US Foreign-Exchange Operations and Monetary Policy in the Twentieth Century, pages 1-26, National Bureau of Economic Research, Inc.

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    Keywords

    Foreign exchange;

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