G2TT
来源类型Discussion paper
规范类型论文
来源IDDP1067
DP1067 The Uruguay Round: A Global General Equilibrium Assessment
Hakan Nordstrom; Joseph Francois; Brad McDonald
发表日期1994-11-30
出版年1994
语种英语
摘要The paper aims to develop understanding of why and how central banks have intervened in foreign exchange markets, and whether intervention was (i) coordinated, (ii) sterilized, and (iii) effective. The experience in the G-3 context is compared with the past EMS experience. In addition to foreign exchange intervention, the issue of international monetary policy coordination is discussed, again both within the G-3 and the EMS context. It is shown that the G-3 countries have relied primarily on coordinated intervention without any significant commitment to other forms of policy coordination in stabilizing exchange rates. The EMS countries, on the other hand, have at least to some extent resorted to short-term interest rate policy coordination in addition to coordinated intervention.
主题International Macroeconomics
关键词Central bank intervention European monetary system Exchange rates International policy coordination Sterilization
URLhttps://cepr.org/publications/dp1067
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/530208
推荐引用方式
GB/T 7714
Hakan Nordstrom,Joseph Francois,Brad McDonald. DP1067 The Uruguay Round: A Global General Equilibrium Assessment. 1994.
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