On the theory of sterilized foreign exchange intervention

DOI10.1016/J.JEDC.2010.04.005zbMATH Open1232.91517OpenAlexW1966896999MaRDI QIDQ991397FDOQ991397

Authors: Michael Kumhof 

Publication date: 7 September 2010

Published in: Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jedc.2010.04.005

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zbMATH Keywords

uncovered interest parityimperfect asset substitutabilityportfolio balance modelssterilized foreign exchange intervention

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Cites Work

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• Maximum Likelihood Estimation of Discretely Sampled Diffusions: A Closed-form Approximation Approach
• An Intertemporal General Equilibrium Model of Asset Prices
• Liquidity and interest rates
• International Business Cycles with Endogenous Incomplete Markets
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• Equilibrium asset prices and exchange rates
• Exchange Rate Dynamics with Sluggish Prices under Alternative Price-Adjustment Rules

Cited In (5)

• A theory of foreign exchange interventions
• The dynamic unsubstitutability of sterilization operations and neutral-intervention operations under dual exchange rates
• Modeling sterilized interventions and balance sheet effects of monetary policy in a New-Keynesian framework
• Leaning-against-the-wind intervention and the ``carry-trade view of the cost of reserves
• On the relevance of floating exchange rate policies

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