Measuring the degree of exchange market intervention in a small open economy

被引：66

作者：

Weymark, DN

机构：

[1] Department of Economics, Western Washington University, Bellingham

来源：

JOURNAL OF INTERNATIONAL MONEY AND FINANCE | 1997年 / 16卷 / 01期

关键词：

D O I：

10.1016/S0261-5606(96)00048-4

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

In this article, I introduce an index of intervention activity which can be calculated on the basis of observed data. This intervention index measures intervention activity as the proportion of exchange market pressure relieved by exchange market intervention. The properties of the intervention index are established analytically using a model of a small open economy with rational expectations. The index is used to calculate measures of bilateral and multilateral intervention for Canada over the period 1975-1990. (JEL F31). (C) 1997 Elsevier Science Ltd.

引用

页码：55 / 79

页数：25

共 26 条

[1]

BUITER WH, 1985, EXCHANGE RATE MANAGE, P31

[2] A REEXAMINATION OF THE MONETARY MODEL OF EXCHANGE MARKET PRESSURE - CANADA, 1963-1988 [J].