Effects of Central Bank Intervention in the Foreign Exchange Market (Effets de l'intervention de la banque centrale dans les marches des changes) (Efectos de la intervencion de los bancos centrales en los mercados de divisas)

1981 ◽  
Vol 28 (3) ◽  
pp. 451 ◽  
Author(s):  
Hans Genberg
Keyword(s):  
Central Bank ◽  
Foreign Exchange ◽  
Foreign Exchange Market ◽  
Exchange Market ◽  
Central Bank Intervention

scholarly journals Impact of Exchange Rate Management on the Nigerian Economic Growth: Empirical Validation

2019 ◽  
pp. 28-35
Keyword(s):  
Exchange Rate ◽  
Central Bank ◽  
Foreign Exchange ◽  
Foreign Exchange Market ◽  
Exchange Rate Volatility ◽  
Monetary Economics ◽  
Exchange Market ◽  
Central Bank Intervention ◽  
Foreign Exchange Intervention ◽  
International Money

Adewuyi, (2002). Balance of Payments Constraints and Growth Rate Differences under Alternative Police Regimes. Nigerian Institute of Social and Economic Research (NISER) Monograph Series No. 10, Ibadan, Nigeria. Adebiyi, M. A. (2007). An Evaluation of Foreign Exchange Intervention and Monetary Aggregates in Nigeria (1986-2003). The University of Munich Finance Journal, 4 (2),1-19. Aghin, P.; Bacchetta, P.; Ranciere, R. & Rogoff, K. (2006). Exchange rate volatility and productivity growth: The role of financial development. Journal of Monetary Economics, 56 (4), 494–51. Bonser-Neal, C. & Tanner, G. (1996). Central Bank Intervention and Volatility of Exchange Rates: Evidence from the Options Market. Journal of International Money and Finance, 18 (2), 23-45. Dominguez, K. (1990). Market Responses to Coordinated Central Bank Intervention. Carnegie Rochester Conference Series on Public Policy, 32 Dominguez, K. (1998). Central Bank Intervention and Exchange Rate Volatility. Journal of International and Finance, 15 (4). Dominguez, K & Frankel, J. A. (1993). Does Foreign Exchange Intervention matter? The Portfolio effect. American Economic Review, 83 (5), 231-259 Dubas, J.M., Lee, B.J., & Mark, N.C. (2005). Effective Exchange Rate Classifications and Growth. NBER Working Paper No. 11272 Frankel, J.A. ((1992). In search of the Exchange rate Premium: A Six-Currency Test assuming mean-variance optimization. Journal of International Money and Finance,1(2),19-32 Gosh, A. (1992). Is it Signinaling? Exchange Rate intervention and the Dollar Deutssche-Mark Rate. Journal of International Economics, 32(4), 45-67 Granger, C.W.J. & Newbold, P. 1974). Spurious regression in Econometrics, Journal of Econometrics 2 (4) 111-120. Harris R.G. (2002). New Economy and the Exchange Rate Regime. Centre for International Economics Studies, Discussion paper, No 111. Humpage, O. (1989). On the Effectiveness of Foreign Exchange Market Intervention. Federal Reserve Bank of Cleveland. Kaminsky, G & Lewis, K (1996). Does Foreign Exchange Intervention signal future monetary policy? Journal of Monetary Economics, 37(2), 66-89 Nwankwo (G.O) (1980). Money and capital markets in Nigeria Today. University of Lagos Press, Nigeria. Odusola A.F. and Akinlo, A.E. (2001). Output, Inflation, and Exchange Rate in Developing Countries: An Application to Nigeria. Developing Economies, 39(2). Oloyede, J. A. (2002). Principles of International Finance. Forthright Educational Publishers, Lagos. Rano-Aliyu S.U. (2009). Impact of Oil Price Shock and Exchange Rate Volatility on Economic Growth in Nigeria: An Empirical Investigation. Research Journal of International Studies 10(4) 23-45. Rognoff, K. (1984). The effects of sterilized intervention: An analysis of weekly data. Journal of Monetary Economics, 2 (2), 14-34. Sarno, L. & Taylor, M. P. (2001). Official intervention in the Foreign Exchange Market: Is it effective, and if so, how does it work? Journal of Economic Literature, 3(1), 39-56. Simatele, M.C.H.(2003). Financial Sector Reforms and Monetary Policy in Zambia. Ph.D Dissertation, Economics Studies, Department of Economics, School of Economics and Commercial Law, Goteborg University. Unugbro, A.O (2007). The Impact of Exchange Rate Fluctuation on Capital Inflow: The Nigerian Experience. The Nigeria Academic Journal of Social Sciences, 6(4),1-21

scholarly journals Exploring Carry Trade and Exchange Rate toward Sustainable Financial Resources: An application of the Artificial Intelligence UKF Method

2019 ◽  
Vol 11 (12) ◽  
pp. 3240
Author(s):  
Qian Zhang ◽  
Kuo-Jui Wu ◽  
Ming-Lang Tseng
Keyword(s):  
Artificial Intelligence ◽  
Exchange Rate ◽  
Central Bank ◽  
Foreign Exchange ◽  
Foreign Exchange Market ◽  
Financial Resources ◽  
Exchange Market ◽  
Carry Trade ◽  
Central Bank Intervention ◽  
Chinese Yuan

This paper constructs a heterogeneous agent model for the foreign exchange market that is based on the law of supply and demand and includes carry trade, central bank intervention, and macroeconomic fundamentals. With the artificial intelligence method of the unscented Kalman filter, this paper investigates carry traders’ expectation formation and risk aversion and the impact of their activities on the movement of the Chinese yuan exchange rate and on the efficiency of central bank intervention. The findings demonstrate that carry traders’ activities are partially responsible for fluctuations in the Chinese yuan exchange rate; carry traders behave with obvious risk aversion; their activities tend to weaken the ability of the central bank to intervene in China’s foreign exchange market; and the volatility of the Chinese yuan exchange rate and the weight of carry traders are negatively related. Based on these empirical results, specific suggestions for exploring sustainable financial resources are provided.

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