Foreign Exchange Intervention As A Monetary Policy Instrument: Evidence For Inflation Targeting Countries by Felix HüfnerForeign Exchange Intervention As A Monetary Policy Instrument: Evidence For Inflation Targeting Countries by Felix Hüfner

Foreign Exchange Intervention As A Monetary Policy Instrument: Evidence For Inflation Targeting…

byFelix Hüfner, Felix H]fner

Paperback | February 12, 2004

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Foreign exchange intervention is frequently being used by central banks in countries which have a floating exchange rate. Most theoretical monetary policy models, however, do not take this phenomenon into account. This book contributes to close this gap between theory and practice by interpreting foreign exchange intervention as an additional monetary policy instrument for inflation targeting central banks. In-depth empirical analyses of the foreign exchange operations and interest rate policy of five inflation targeting countries (Australia, Canada, New Zealand, Sweden and the United Kingdom) demonstrate how foreign exchange intervention is used in practice.
Title:Foreign Exchange Intervention As A Monetary Policy Instrument: Evidence For Inflation Targeting…Format:PaperbackDimensions:175 pagesPublished:February 12, 2004Publisher:Springer-Verlag/Sci-Tech/TradeLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:3790801283

ISBN - 13:9783790801286

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Table of Contents

Introduction.- The Conventional View on Inflation Targeting.- Uncovered Interest Parity in Practice.- Sterilised Interventions as an Additional Policy Instrument.- Sterilised Foreign Exchange Intervention in Practice.- Performance of Inflation Targeting: An Evaluation.- Conclusion and Outlook.