Foreign exchange interventions in a small emerging market: the case of Croatia

被引：3

作者：

Egert, Balazs ^{[1
,2
,3
,4
]}

Lang, Maroje ^{[5
]}

机构：

[1] Oesterre Natl Bank, Vienna, Austria

[2] CESifo, Munich, Germany

[3] Univ Paris X Nanterre, Econ, Paris, France

[4] William Davidson Inst, Ann Arbor, MI USA

[5] Croatian Natl Bank, Zagreb, Croatia

来源：

ECONOMIC CHANGE AND RESTRUCTURING | 2006年 / 39卷 / 1-2期

关键词：

Central bank intervention; Foreign exchange intervention; Official interventions; Foreign exchange market; Effectiveness; Exchange rate volatility; Emerging economies; Transition economies;

D O I：

10.1007/s10644-007-9019-z

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper studies the impact of daily official foreign exchange interventions on the exchange rates in Croatia for the period from 1996 to 2004. Using the event study methodology and a variety of GARCH models reveals that the Croatian central bank was in a position to influence, to some extent, the level of the exchange rate during the period studied. This lends support to the view that foreign exchange intervention may be effective in emerging market economies.

引用

页码：35 / 62

页数：28