Modeling Sterilized Interventions and Balance Sheet Effects of Monetary Policy in a New-Keynesian Framework »
Series: IMF Working Papers
Author(s): Jaromir Benes , Andrew Berg , Rafael Portillo , and David Vavra
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 14 January 2013
Keywords: Sterilized FX interventions, new-Keynesian economics, exchange rate, exchange rate targeting, exchange rate interventions, exchange rates, Monetary Policy (Targets, Instruments, and Effects),
We study a wide range of hybrid inflation-targeting (IT) and managed exchange rate regimes, analyzing their implications for inflation, output and the exchange rate in the presence of various domestic and external...