Series: IMF Working Papers
Author(s): Fernando M. Gonçalves
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 April 2008
Keywords: Foreign Reserves, Foreign Exchange Market, Floating Exchange Rate, inflation, monetary authority, inflation rate, foreign exchange,
Official accumulation of foreign reserves may be perceived as interventions to influence the exchange rate, undermining the credibility of floating exchange rates and inflation targets. This paper develops a theore...