Series: IMF Working Papers
Author(s): Gustavo Adler , Noemie Lisack , and Rui Mano
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 23 June 2015
Keywords: exchange rate, exchange, exchange rates, central bank,
We study the effect of foreign exchange intervention on the exchange rate relying on an instrumental-variables panel approach. We find robust evidence that intervention affects the level of the exchange rate in an...