Announcements are not enough : foreign exchange intervention under imperfect credibility

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

Detalles Bibliográficos
Autores Principales: Gómez-González, José Eduardo, Parra-Polanía, Julián Andrés, Villamizar-Villegas, Mauricio
Formato: Documento de trabajo (Working Paper)
Lenguaje:Español (Spanish)
Publicado: Banco de la República 2016
Materias:
Acceso en línea:http://repositorio.banrep.gov.co/handle/20.500.12134/6260