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Мета-аналіз: ефект fx-інтервенцій на валютний курс

Author

Listed:
  • Соломія Бричка
  • Денис Клиновський
  • Дмитро Круковець
  • Артем Огарков

    () (Київська школа економіки)

Abstract

Сьогодні валютні інтервенції (FXI) залишаються одним з найбільш актуальних та популярних інструментів монетарної політики серед центральних банків. Дане дослідження спрямоване на вивчення короткострокового впливу валютних інтервенцій центрального банку на номінальний валютний курс та його волатильність. Робота проведена у формі мета-аналізу та базується на показниках для 8 країн, описаних у 12 наукових роботах з однаковим монетарним режимом. Результати дослідження свідчать про те, що у наукових роботах не досягнуто консенсусу стосовно предмету дослідження. Використовуючи модель випадкових ефектів, автори встановили, що, відповідно до вивчених наукових робіт, валютні інтервенції центрального банку (продаж долару США) в короткостроковій перспективі призводить до зміцнення національної валюти та одночасно підвищує ринкову волатильність. Проте, описані ефекти незначні та близькі до нуля. Достовірність результатів була перевірена на упередженість публікацій за допомогою формальних методів.

Suggested Citation

  • Соломія Бричка & Денис Клиновський & Дмитро Круковець & Артем Огарков, 2019. "Мета-аналіз: ефект fx-інтервенцій на валютний курс," Suchasni ekonomichni doslidzhennja, Kyiv School of Economics, vol. 2(1), pages 24-47.
  • Handle: RePEc:kse:chasop:v:2:y:2019:i:1:p:24-47
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    More about this item

    Keywords

    валютні інтервенції; валютний курс; монетарна політика; мета-аналіз;

    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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