FOREIGN EXCHANGE INTERVENTION: Theory and Evidence
Language: English
Published by Edward Elgar Publishing Ltd, 1995
- Hardcover
- New

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1995. Hardcover. . . . . . Books ship from the US and Ireland.
Seller Inventory # V9781858982632
- Title
- FOREIGN EXCHANGE INTERVENTION: Theory and Evidence
- Author
- Geert J. Almekinders
- Publisher
- Edward Elgar Publishing Ltd
- Publication year
- 1995
- Condition
- New
- Binding
- Hardcover
- Language
- English
- ISBN 10
- 1858982634
- ISBN 13
- 9781858982632
Using confidential daily intervention data from the Bundesbank and the Federal Reserve for the period 1985 to 1990, the author shows how both banks were unable, despite repeated attempts, to reverse unwanted currency movements successfully. Dr Almekinders develops a positive theory of intervention - drawing on game theory - to show how central banks which lack political independence are sometimes forced to engage in surprise interventions which are rendered ineffective by rational speculators who anticipate their moves. The author also makes extensive use of modern statistical models of exchange rates to examine the decision making process of central banks. The book includes comprehensive surveys of existing theoretical and empirical investigations of foreign exchange intervention.
Foreign Exchange Intervention will be welcomed by academic researchers and students, as well as economists and analysts in the financial sector, for its comprehensive surveys of previous scholarship, the use of hitherto unavailable data from the Bundesbank and the Federal Reserve, and the policy conclusions which derive from the book’s theoretical and empirical insights.
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Kennys Bookstore
Olney, MD, U.S.A.
AbeBooks seller since October 9, 2009
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