Horvath, Roman (2006): Modelling Central Bank Intervention Activity under Inflation Targeting.
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Using daily data from the Czech Republic in 1/1/1998-31/12/2002, we find that foreign exchange intervention activity is determined by the degree of exchange rate misalignment and lagged intervention. Additionally, inflation targeting regime is a binding constraint of intervention activity.
|Item Type:||MPRA Paper|
|Institution:||Czech National Bank|
|Original Title:||Modelling Central Bank Intervention Activity under Inflation Targeting|
|Keywords:||Foreign exchange intervention; central bank; inflation targeting|
|Subjects:||E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies
E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy
F - International Economics > F3 - International Finance > F31 - Foreign Exchange
F - International Economics > F3 - International Finance > F33 - International Monetary Arrangements and Institutions
|Depositing User:||Roman Horvath|
|Date Deposited:||24. Nov 2006|
|Last Modified:||15. Feb 2013 16:35|
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