Borradores de Economia
Número:
949
Publicado:
Clasificación JEL:
F31, E58, G20, D43
Palabras clave:
Exchange Rate, Foreign Exchange Intervention, Central Bank Credibility, Credibility Function
Lo más reciente
Zhibiao Zhao, Manuel Darío Hernández-Bejarano
Daniel Herrera-Araujo, Jorge Florez-Acosta
Luis Armando Galvis-Aponte, Adriana Marcela Rivera-Zárate
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