Does Foreign Exchange Intervention Work?

by Jeffrey A. Frankel and Kathryn Mary Dominguez

Book Overview

How much impact on exchange rates do central banks have when they buy and sell currencies? According to many analysts, such intervention has no independent impact. This book challenges the conventional wisdom, demonstrating that such intervention can be an effective and extremely important tool for policymakers. Using previously unavailable daily intervention data from the US Federal Reserve and German Bundesbank, the authors show that even "sterilized"...

• Format: Paperback
• Language: English
• ISBN: 0881321044
• ISBN13: 9780881321043
• Release Date: September 1993
• Publisher: Peterson Institute for International Economic
• Length: 192 Pages
• Weight: 0.50 lbs.
• Dimensions: 0.4" x 6.1" x 9.1"
• Grade Range: Postsecondary and higher