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Foreign Exchange Intervention as a Monetary Policy Instrument

Evidence for Inflation Targeting Countries

  • Book
  • © 2004

Overview

Authors:
  1. Felix Hüfner

    1. Centre for European Economic Research (ZEW), Mannheim, Germany

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Part of the book series: ZEW Economic Studies (ZEW, volume 23)

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Table of contents (7 chapters)

  1. Front Matter

    Pages I-IX
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  2. Introduction

    • Felix Hüfner
    Pages 1-6

  3. The Conventional View on Inflation Targeting

    • Felix Hüfner
    Pages 7-32

  4. Uncovered Interest Parity in Practice

    • Felix Hüfner
    Pages 33-43

  5. Sterilised Interventions as an Additional Policy Instrument

    • Felix Hüfner
    Pages 45-78

  6. Sterilised Foreign Exchange Intervention in Practice

    • Felix Hüfner
    Pages 79-144

  7. Performance of Inflation Targeting: An Evaluation

    • Felix Hüfner
    Pages 145-149

  8. Conclusion and Outlook

    • Felix Hüfner
    Pages 151-154

  9. Back Matter

    Pages 155-175
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Keywords

About this book

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.

Authors and Affiliations

  • Centre for European Economic Research (ZEW), Mannheim, Germany

    Felix Hüfner

Bibliographic Information

  • Book Title: Foreign Exchange Intervention as a Monetary Policy Instrument

  • Book Subtitle: Evidence for Inflation Targeting Countries

  • Authors: Felix Hüfner

  • Series Title: ZEW Economic Studies

  • DOI: https://doi.org/10.1007/978-3-7908-2672-2

  • Publisher: Physica Heidelberg

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer-Verlag Berlin Heidelberg 2004

  • Softcover ISBN: 978-3-7908-0128-6Published: 01 December 2003

  • eBook ISBN: 978-3-7908-2672-2Published: 06 December 2012

  • Series ISSN: 1615-6781

  • Series E-ISSN: 1867-2027

  • Edition Number: 1

  • Number of Pages: IX, 175

  • Topics: Macroeconomics/Monetary Economics//Financial Economics, International Economics

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