| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP2746
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| DP2746 Learning About Migration Decisions from the Migrants: Using Complementary Datasets to Model Intra-Regional Migrations in Spain |
| Manuel Arellano; Olympia Bover
|
| 发表日期 | 2001-03-27
|
| 出版年 | 2001
|
| 语种 | 英语
|
| 摘要 | In this Paper we assess the progress made by the profession in understanding whether and how exchange rate intervention works. To this end, we review the theory and evidence on official intervention, concentrating primarily on work published within the last decade or so. Our reading of the recent literature leads us to conclude that, in contrast with the profession's consensus view of the 1980s, official intervention can be effective, especially through its role as a signal of policy intentions, and especially when it is publicly announced and concerted. We also note, however, an apparent empirical puzzle concerning the secrecy of much intervention and suggest an additional way in which intervention may be effective but which has so far received little attention in the literature, namely through its role in remedying a coordination failure in the foreign exchange market. |
| 主题 | International Macroeconomics
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| 关键词 | Purchasing power parity
Real exchange rate
Unit root test
Nonlinear dynamics
Test power
|
| URL | https://cepr.org/publications/dp2746
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| 来源智库 | Centre for Economic Policy Research (United Kingdom)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531802
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推荐引用方式
GB/T 7714 |
Manuel Arellano,Olympia Bover. DP2746 Learning About Migration Decisions from the Migrants: Using Complementary Datasets to Model Intra-Regional Migrations in Spain. 2001.
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