<p>How much impact on exchange rates do central banks have when they buy and sell currencies? According to many analysts, such intervention has no independent impact. This book challenges the conventional wisdom, demonstrating that such intervention can be an effective and extremely important tool for policymakers. Using previously unavailable daily intervention data from the US Federal Reserve and German Bundesbank, the authors show that even "sterilized" intervention -intervention that entails no corresponding changes in monetary policy- has a significant effect. A key element is whether the intervention is known to the public: widespread market awareness of the activity adds substantially to its payoff. Authors Dominguez and Frankel draw implications for intervention policy and its role in international economic policy coordination.</p>

Does Foreign Exchange Intervention Work?

Business & Money

Frankel, Jeffrey

Dominguez, Kathryn

Economics

Peterson Institute for International Economics

<p>This book explores whether the world economy is breaking up into regional trading and currency blocs centred on the European Community, Japan and the United States. Frankel uses trade, investment and financial data to assess this issue. He concludes with an analysis of how trends in regional economic integration can be used as building blocks for a stronger multilateral system.</p>

Regional Trading Blocs in the World Economic System (Institute for International Economics)

See the best price to sell, buy, or rent books by Frankel, Jeffrey. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Frankel, Jeffrey

See the best price to sell, buy, or rent books by Frankel, Jeffrey. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Does Foreign Exchange Intervention Work?

Regional Trading Blocs in the World Economic System (Institute for International Economics)