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

Luis Armando Galvis-Aponte, Adriana Marcela Rivera-Zárate
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Diego Fernando Cuesta-Mora, Fredy Alejandro Gamboa-Estrada, Camilo Eduardo Sánchez-Quinto

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