| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21427 |
| 来源ID | Working Paper 21427 |
| Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks? | |
| Olivier Blanchard; Gustavo Adler; Irineu de Carvalho Filho | |
| 发表日期 | 2015-08-03 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | Many emerging market economies have relied on foreign exchange intervention (FXI) in response to gross capital inflows. In this paper, we study whether FXI has been an effective tool to dampen the effects of these inflows on the exchange rate. To deal with endogeneity issues, we 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, we find that larger FXI leads to less exchange rate appreciation in response to gross inflows. |
| 主题 | International Economics ; International Finance ; International Macroeconomics |
| URL | https://www.nber.org/papers/w21427 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579102 |
| 推荐引用方式 GB/T 7714 | Olivier Blanchard,Gustavo Adler,Irineu de Carvalho Filho. Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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