Número:
949
Publicado:
Clasificación JEL:
F31, E58, G20, D43
Palabras clave:
Exchange Rate, Foreign Exchange Intervention, Central Bank Credibility, Credibility Function
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Sergi Basco, Jair Neftali Ojeda-Joya
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Karina Acosta, Juliana Jaramillo-Echeverri, Daniel Lasso Jaramillo, Alejandro Sarasti-Sierra
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