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Does Foreign Exchange Intervention Work?
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Does Foreign Exchange Intervention Work? Paperback - 2001

by Kathryn Dominguez; Jeffrey Frankel


From the publisher

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" intervention -intervention that entails no corresponding changes in monetary policy- has a significant effect. A key element is whether the intervention is known to the public: widespread market awareness of the activity adds substantially to its payoff. Authors Dominguez and Frankel draw implications for intervention policy and its role in international economic policy coordination.

Details

  • Title Does Foreign Exchange Intervention Work?
  • Author Kathryn Dominguez; Jeffrey Frankel
  • Binding Paperback
  • Pages 192
  • Volumes 1
  • Language ENG
  • Publisher Peterson Institute for International Economic
  • Date 2001-04
  • Illustrated Yes
  • Features Illustrated, Index, Table of Contents
  • ISBN 9780881321043 / 0881321044
  • Weight 0.62 lbs (0.28 kg)
  • Dimensions 9.14 x 6.11 x 0.42 in (23.22 x 15.52 x 1.07 cm)
  • Library of Congress Catalog Number 93002923
  • Dewey Decimal Code 332.456

About the author

Kathryn M. Dominguez was a Visiting Fellow and Associate Professor of Public Policy at the John F. Kennedy School of Government, Harvard University. Jeffrey A. Frankel was a Visiting Fellow and Professor of Economics at the University of California at Berkely. He was formerly Senior Internaitonal Economist at the Council of Economic Advisers (1983-84).

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Does Foreign Exchange Intervention Work?

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Does Foreign Exchange Intervention Work?
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