Objectives and effectiveness of foreign exchange market intervention. A survey of the empirical literature

Authors

  • G.J. ALMEKINDERS
  • S. EIJFFINGER

DOI:

https://doi.org/10.13133/2037-3643/10935

Keywords:

Central bank policy, Foreign exchange markets, Intervention

Abstract

Economists disagree as to whether there is any necessity for central bank intervention in the foreign exchange markets, given a free floating system. The aim of this literature survey is to assess the objectives of central banks when they enter the foreign exchange market and to consider their effectiveness. The authors conclude that the importance of intervention lies in its news impact and associated expectation effects.


JEL: E58, F31

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Published

2013-10-22

How to Cite

ALMEKINDERS, G., & EIJFFINGER, S. (2013). Objectives and effectiveness of foreign exchange market intervention. A survey of the empirical literature. PSL Quarterly Review, 44(176). https://doi.org/10.13133/2037-3643/10935

Issue

Vol. 44 No. 176 (1991)

Section

Editorial

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