Series: IMF Working Papers
Author(s): Francesca Caselli
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 20 September 2017
Keywords: Foreign exchange, Czech Republic, Europe, Foreign exchange intervention, Central banks and their policies, exchange rate, synthetic control method
To fight deflationary pressures at the zero lower bound, in November 2013, the Czech National Bank (CNB) introduced a one-sided floor on the exchange rate, as an additional monetary policy instrument. This paper in...