Can foreign exchange intervention stem exchange rate pressures from global capital flow shocks? /

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Bibliographic Details
Author / Creator:	Blanchard, Olivier, author.
Imprint:	[Washington, D.C] : International Monetary Fund, Research Department, 2015.
Description:	1 online resource (30 pages)
Language:	English
Series:	IMF working paper, 1018-5941 ; WP/15/159 IMF working paper ; WP/15/159.
Subject:	Foreign exchange -- Government policy -- Developing countries. Foreign exchange rates -- Developing countries. Capital movements -- Developing countries. Capital movements. Foreign exchange -- Government policy. Foreign exchange rates. Developing countries.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12504629

Hidden Bibliographic Details
Other authors / contributors:	Adler, Gustavo. Carvalho Filho, Irineu de, author. International Monetary Fund. Research Department.
ISBN:	1513585843 9781513585840 1513573187 9781513573182 1513579363 9781513579368
Notes:	"July 2015." Includes bibliographical references.
Summary:	"Many emerging market economies have relied on foreign exchange intervention (FXI) in response to gross capital inflows. In this paper, the authors study whether FXI has been an effective tool to dampen the effects of these inflows on the exchange rate. To deal with endogeneity issues, they look at the response of different countries to plausibly exogenous gross inflows, and explore the cross country variation of FXI and exchange rate responses. Consistent with the portfolio balance channel, they find that larger FXI leads to less exchange rate appreciation in response to gross inflows."-
Other form:	1513585843 1513548506
Standard no.:	10.5089/9781513585840.001

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