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The effectiveness of FX interventions: a meta-analysis

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Bibliographic Details
Authors and Corporations: Arango-Lozano, Lucía (Author), Menkhoff, Lukas (Author), Rodríguez-Novoa, Daniela (Author), Villamizar, Mauricio (Author)
Other Authors: Menkhoff, Lukas 1958- [Author] • Rodríguez-Novoa, Daniela [Author] • Villamizar, Mauricio [Author]
Type of Resource: E-Book
Language: English
published:
Series: Deutsches Institut für Wirtschaftsforschung: Discussion papers ; 1895
Subjects:
foreign exchange intervention
exchange rate
meta-analysis
Graue Literatur
Source: Verbunddaten SWB
Lizenzfreie Online-Ressourcen
Description
Summary: There is ample empirical literature centering on the effectiveness of foreign exchange intervention (FXI). Given the mix of objectives and country-heterogeneity, the general lack of consensus thus far is no surprise. We shed light on this debate by conducting the first comprehensive meta-analysis in the FXI literature, with 279 reported effects that stem from 74 distinct empirical studies. We cover estimations conducted in 19 countries across five decades. Overall, our meta-survey reports an average depreciation of domestic currency of 1% and a reduction of exchange rate volatility of 0.6%, in response to a
Physical Description: 1 Online-Ressource (circa 45 Seiten); Illustrationen