Announcements are not enough : foreign exchange intervention under imperfect credibility
Borradores de Economía; No. 949
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2016-07-01Date of last update
2016-07-01Document language
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Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
Abstract
Central banks in emerging countries frequently build-up (diminish) reserves while attempting to depreciate (appreciate) their domestic currencies. Even if these interventions are e¤ective, they often entail various costs. Basu (2012), nonetheless, propose
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https://repositorio.banrep.gov.co/handle/20.500.12134/6260https://hdl.handle.net/20.500.12134/6260
https://doi.org/10.32468/be.949
https://ideas.repec.org/p/bdr/borrec/949.html
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