Da Silva, Sergio and Nunes, Mauricio (2007): Latin American foreign exchange intervention - Updated. Unpublished.
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We examine Latin American foreign exchange intervention in a framework where the exchange rate regime is endogenous and there exists an inefficient, equilibrium foreign exchange intervention bias. The model suggests that greater central bank independence is associated with lesser intervention in the foreign exchange market, and also with leaning-against-the-wind intervention. Both results are confirmed by data from 13 Latin American countries.
| Item Type: | MPRA Paper |
|---|---|
| Institution: | Federal University of Santa Catarina |
| Language: | English |
| Keywords: | foreign exchange intervention; exchange rates; Latin America |
| Subjects: | F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F41 - Open Economy Macroeconomics F - International Economics > F3 - International Finance > F31 - Foreign Exchange |
| ID Code: | 1982 |
| Deposited By: | Sergio Da Silva |
| Deposited On: | 03. Mar 2007 |
| Last Modified: | 07. Nov 2007 02:08 |
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