Announcements are not enough : foreign exchange intervention under imperfect credibility
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Borradores de Economía; No. 949
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2016-07-01
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2016-07-01
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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.
The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.
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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Esta obra está bajo licencia internacional Creative Commons Reconocimiento-NoComercial 4.0.
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