On the theory of sterilized foreign exchange intervention

DOI10.1016/J.JEDC.2010.04.005MaRDI QIDQ991397zbMATHOpenAlexFDO

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

zbMATH Keywords

uncovered interest parityimperfect asset substitutabilityportfolio balance modelssterilized foreign exchange intervention

Mathematics Subject Classification ID

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

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Cites work

• scientific article; zbMATH DE number 43867 (Why is no real title available?)
• scientific article; zbMATH DE number 51724 (Why is no real title available?)
• scientific article; zbMATH DE number 3505708 (Why is no real title available?)
• scientific article; zbMATH DE number 1250597 (Why is no real title available?)
• An Intertemporal General Equilibrium Model of Asset Prices
• Equilibrium asset prices and exchange rates
• Exchange Rate Dynamics with Sluggish Prices under Alternative Price-Adjustment Rules
• International Business Cycles with Endogenous Incomplete Markets
• Liquidity and interest rates
• Maximum Likelihood Estimation of Discretely Sampled Diffusions: A Closed-form Approximation Approach
• Optimum consumption and portfolio rules in a continuous-time model

Cited in

(5)

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

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