Foreign exchange intervention revisited : a new way of estimating censored models

Borradores de Economia
Number: 
972
Published: 
Classification JEL: 
C14, C22, C24, E58, F31

The most recent

Rocío Clara Alexandra Mora-Quiñones, Antonio José Orozco-Gallo, Dora Alicia Mora-Pérez
Leonardo Fabio Morales, Leonardo Bonilla-Mejía, Didier Hermida-Giraldo, Francisco Javier Lasso-Valderrama, José Pulido

Most of the literature on the e ectiveness of foreign exchange intervention has yet to reach a general consensus. In part, this is due to the di erent estimation methods in which exogenous variation is identi ed. In this sense, the use of heavily-dependen