FX interventions in Brazil: a synthetic control approach
Author
Abstract
(This abstract was borrowed from another version of this item.)
Suggested Citation
Download full text from publisher
Other versions of this item:
- Chamon, Marcos & Garcia, Márcio & Souza, Laura, 2017. "FX interventions in Brazil: A synthetic control approach," Journal of International Economics, Elsevier, vol. 108(C), pages 157-168.
References listed on IDEAS
- Jaromir Benes & Andrew Berg & Rafael Portillo & David Vavra, 2015.
"Modeling Sterilized Interventions and Balance Sheet Effects of Monetary Policy in a New-Keynesian Framework,"
Open Economies Review, Springer, vol. 26(1), pages 81-108, February.
- Mr. Jaromir Benes & Mr. Rafael A Portillo & Mr. David Vavra & Mr. Andrew Berg, 2013. "Modeling Sterilized Interventions and Balance Sheet Effects of Monetary Policy in a New-Keynesian Framework," IMF Working Papers 2013/011, International Monetary Fund.
- Ghosh, Atish R. & Ostry, Jonathan D. & Chamon, Marcos, 2016.
"Two targets, two instruments: Monetary and exchange rate policies in emerging market economies,"
Journal of International Money and Finance, Elsevier, vol. 60(C), pages 172-196.
- Mr. Marcos d Chamon & Mr. Atish R. Ghosh & Mr. Jonathan David Ostry, 2012. "Two Targets, Two Instruments: Monetary and Exchange Rate Policies in Emerging Market Economies," IMF Staff Discussion Notes 2012/001, International Monetary Fund.
- Emanuel Kohlscheen & Sandro C. Andrade, 2013. "Official Interventions through Derivatives: affecting the demand for foreign exchange," Working Papers Series 317, Central Bank of Brazil, Research Department.
- Kristin J Forbes & Michael W Klein, 2015.
"Pick Your Poison: The Choices and Consequences of Policy Responses to Crises,"
IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 63(1), pages 197-237, May.
- Kristin J. Forbes & Michael W. Klein, 2015. "Pick Your Poison: The Choices and Consequences of Policy Responses to Crises," NBER Working Papers 20987, National Bureau of Economic Research, Inc.
- Mark P. Taylor & Lucio Sarno, 2001.
"Official Intervention in the Foreign Exchange Market: Is It Effective and, If So, How Does It Work?,"
Journal of Economic Literature, American Economic Association, vol. 39(3), pages 839-868, September.
- Sarno, Lucio & Taylor, Mark P, 2001. "Official Intervention in the Foreign Exchange Market: Is It Effective, and, If So, How Does It Work?," CEPR Discussion Papers 2690, C.E.P.R. Discussion Papers.
- Chamon, Marcos & Garcia, Márcio, 2016.
"Capital controls in Brazil: Effective?,"
Journal of International Money and Finance, Elsevier, vol. 61(C), pages 163-187.
- Marcos Chamon & Marcio Garcia, 2013. "Capital controls in Brazil: effective?," Textos para discussão 606, Department of Economics PUC-Rio (Brazil).
- Campbell, John Y. & Lo, Andrew W. & MacKinlay, A. Craig & Whitelaw, Robert F., 1998. "The Econometrics Of Financial Markets," Macroeconomic Dynamics, Cambridge University Press, vol. 2(4), pages 559-562, December.
- Lukas Menkhoff, 2013.
"Foreign Exchange Intervention in Emerging Markets: A Survey of Empirical Studies,"
The World Economy, Wiley Blackwell, vol. 36(9), pages 1187-1208, September.
- Menkhoff, Lukas, 2012. "Foreign Exchange Intervention in Emerging Markets: A Survey of Empirical Studies," Hannover Economic Papers (HEP) dp-498, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
- Pablo Pincheira, 2013.
"Interventions and Inflation Expectations in an Inflation Targeting Economy,"
Working Papers Central Bank of Chile
693, Central Bank of Chile.
- Pablo Pincheira, 2013. "Interventions and inflation expectations in an inflation targeting economy," BIS Working Papers 427, Bank for International Settlements.
- Carvalho, Carlos & Masini, Ricardo & Medeiros, Marcelo C., 2018.
"ArCo: An artificial counterfactual approach for high-dimensional panel time-series data,"
Journal of Econometrics, Elsevier, vol. 207(2), pages 352-380.
- Carlos Viana de Carvalho & Ricardo Masini & Marcelo Cunha Medeiros, 2016. "ARCO: an artificial counterfactual approach for high-dimensional panel time-series data," Textos para discussão 653, Department of Economics PUC-Rio (Brazil).
- Carvalho, Carlos Viana de & Masini, Ricardo Pereira & Medeiros, Marcelo C., 2017. "Arco: an artificial counterfactual approach for high-dimensional panel time-series data," Textos para discussão 454, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
- Jinjarak, Yothin & Noy, Ilan & Zheng, Huanhuan, 2013.
"Capital controls in Brazil – Stemming a tide with a signal?,"
Journal of Banking & Finance, Elsevier, vol. 37(8), pages 2938-2952.
- Jinjarak, Y & Noy, I & Zheng, H, 2012. "Capital Controls in Brazil: Stemming a Tide with a Signal?," Working Paper Series 2391, Victoria University of Wellington, School of Economics and Finance.
- Yothin Jinjarak & Ilan Noy & Huanhuan Zheng, 2013. "Capital Controls in Brazil - Stemming a Tide with a Signal?," NBER Working Papers 19205, National Bureau of Economic Research, Inc.
- Yothin Jinjarak & Ilan Noy & Huanhuan Zheng, 2012. "Capital Controls in Brazil – Stemming a Tide with a Signal," Working Papers 201213, University of Hawaii at Manoa, Department of Economics.
- João Barata Ribeiro Blanco Barroso, 2018.
"Realized Volatility as an Instrument to Official Intervention,"
Investigación Conjunta-Joint Research, in: Alberto Ortiz-Bolaños (ed.), Monetary Policy and Financial Stability in Latin America and the Caribbean, edition 1, volume 1, chapter 8, pages 259-281,
Centro de Estudios Monetarios Latinoamericanos, CEMLA.
- João Barata R. B. Barroso, 2014. "Realized Volatility as an Instrument to Official Intervention," Working Papers Series 363, Central Bank of Brazil, Research Department.
- Abadie, Alberto & Diamond, Alexis & Hainmueller, Jens, 2010. "Synthetic Control Methods for Comparative Case Studies: Estimating the Effect of California’s Tobacco Control Program," Journal of the American Statistical Association, American Statistical Association, vol. 105(490), pages 493-505.
- Marcio Garcia & Tony Volpon, 2014. "DNDFs:a more efficient way to intervene in FX markets?," Textos para discussão 621, Department of Economics PUC-Rio (Brazil).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Roberto Chang, 2019.
"Foreign Exchange Intervention Redux,"
Central Banking, Analysis, and Economic Policies Book Series, in: Álvaro Aguirre & Markus Brunnermeier & Diego Saravia (ed.),Monetary Policy and Financial Stability: Transmission Mechanisms and Policy Implications, edition 1, volume 26, chapter 7, pages 205-247,
Central Bank of Chile.
- Roberto Chang, 2018. "Foreign Exchange Intervention Redux," NBER Working Papers 24463, National Bureau of Economic Research, Inc.
- Adler, Gustavo & Chang, Kyun Suk & Wang, Zijiao, 2021.
"Patterns of foreign exchange intervention under inflation targeting,"
Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 2(4).
- Gustavo Adler & Kyun Suk Chang & Zijiao Wang, 2020. "Patterns of Foreign Exchange Intervention under Inflation Targeting," IMF Working Papers 2020/069, International Monetary Fund.
- Luna Santos, Francisco, 2021. "Comparing the impact of discretionary and pre-announced central bank interventions," Journal of International Money and Finance, Elsevier, vol. 110(C).
- Radhika Pandey & Gurnain K. Pasricha & Ila Patnaik & Ajay Shah, 2021.
"Motivations for capital controls and their effectiveness,"
International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 391-415, January.
- Radhika Pandey & Gurnain Pasricha & Ila Patnaik & Ajay Shah, 2015. "Motivations for Capital Controls and Their Effectiveness," Staff Working Papers 15-5, Bank of Canada.
- Pandey, Radhika & Pasricha, Gurnain K. & Patnaik, Ila & Shah, Ajay, 2016. "Motivations for capital controls and their effectiveness," Working Papers 16/168, National Institute of Public Finance and Policy.
- Zineddine Alla, 2017. "Optimal policies in International Macroeconomics," Sciences Po publications info:hdl:2441/6kvjk9o32n8, Sciences Po.
- Adler, Gustavo & Mano, Rui C., 2021.
"The Cost of Foreign Exchange Intervention: Concepts and Measurement,"
Journal of Macroeconomics, Elsevier, vol. 67(C).
- Gustavo Adler & Rui Mano, 2016. "The Cost of Foreign Exchange Intervention: Concepts and Measurement," IMF Working Papers 2016/089, International Monetary Fund.
- Martín Tobal & Renato Yslas, 2018.
"Two Models of FX Market Interventions: The Cases of Brazil and Mexico,"
Investigación Conjunta-Joint Research, in: Alberto Ortiz-Bolaños (ed.), Monetary Policy and Financial Stability in Latin America and the Caribbean, edition 1, volume 1, chapter 7, pages 221-257,
Centro de Estudios Monetarios Latinoamericanos, CEMLA.
- Martin Tobal & Renato Yslas, 2016. "Two Models of FX Market Interventions: The Cases of Brazil and Mexico," Working Papers 2016-14, Banco de México.
- Zineddine Alla & Raphael A. Espinoza & Atish R. Ghosh, 2020.
"FX Intervention in the New Keynesian Model,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(7), pages 1755-1791, October.
- Mr. Raphael A Espinoza & Zineddine Alla & Mr. Atish R. Ghosh, 2017. "FX Intervention in the New Keynesian Model," IMF Working Papers 2017/207, International Monetary Fund.
- Prasad, Nalini, 2018. "Sterilized interventions and capital controls," Journal of International Money and Finance, Elsevier, vol. 88(C), pages 101-121.
- Catalán-Herrera, Juan, 2016. "Foreign exchange market interventions under inflation targeting: The case of Guatemala," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 42(C), pages 101-114.
- Francesca Caselli, 2017.
"Did the Exchange Rate Floor Prevent Deflation in the Czech Republic?,"
Review of Economics and Institutions, Università di Perugia, vol. 8(2).
- Francesca G Caselli, 2017. "Did the Exchange Rate Floor Prevent Deflation in the Czech Republic?," IMF Working Papers 2017/206, International Monetary Fund.
- Kathryn M. E. Dominguez, 2020. "Revisiting Exchange Rate Rules," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(3), pages 693-719, September.
- Syarifuddin, Ferry, 2020. "Macroeconomic Consequences of Foreign Exchange Futures Market for Inflation Targeting Economies," MPRA Paper 104810, University Library of Munich, Germany.
- Kathryn M. E. Dominguez, 0. "Revisiting Exchange Rate Rules," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 0, pages 1-27.
- Suman S. Basu & Atish R. Ghosh & Jonathan D. Ostry & Pablo E. Winant, 2018. "Managing Capital Outflows with Limited Reserves," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 66(2), pages 333-374, June.
- Syarifuddin, Ferry & Izzulhaq, Syahid, 2020. "The Effectiveness of Futures-based Foreign Exchange Intervention: Comparative Studies of Brazil and India," MPRA Paper 104709, University Library of Munich, Germany.
- Adler, Gustavo & Lisack, Noëmie & Mano, Rui C., 2019.
"Unveiling the effects of foreign exchange intervention: A panel approach,"
Emerging Markets Review, Elsevier, vol. 40(C), pages 1-1.
- Gustavo Adler & Rui Mano & Noemie Lisack, 2015. "Unveiling the Effects of Foreign Exchange Intervention: A Panel Approach," IMF Working Papers 2015/130, International Monetary Fund.
- Anton Grui, 2020. "Uncovered interest parity with foreign exchange interventions under exchange rate peg and inflation targeting: The case of Ukraine," IHEID Working Papers 14-2020, Economics Section, The Graduate Institute of International Studies.
- Mr. Nicolas E Magud & Mr. Yan Carriere-Swallow & Luis I. Jacome H. & Alejandro M. Werner, 2016. "Central Banking in Latin America: The Way Forward," IMF Working Papers 2016/197, International Monetary Fund.
- Milan Nedeljkovic & Christian Saborowski, 2019.
"The Relative Effectiveness of Spot and Derivatives‐Based Intervention,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(6), pages 1455-1490, September.
- Milan Nedeljkovic & Christian Saborowski, 2018. "The Relative Effectiveness of Spot and Derivatives Based Intervention," CESifo Working Paper Series 7127, CESifo.
More about this item
JEL classification:
- 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
- F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
- F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
NEP fields
This paper has been announced in the following NEP Reports:- NEP-LAM-2015-04-11 (Central & South America)
- NEP-MAC-2015-04-11 (Macroeconomics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rio:texdis:630. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/dpucrbr.html .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (email available below). General contact details of provider: https://edirc.repec.org/data/dpucrbr.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.