Are Foreign Exchange Intervention and Monetary Policy Related and Does it Really Matter? |
Common terms and phrases
affect the exchange AM(i Angus Deaton bi-weekly borrowed reserves Bureau of Economic call money rate central banks changes in monetary column variable correlation Covariance matrix CSD Lib current interventions Dominguez empirical estimates exchange rate exp(c Fed funds rate federal funds rate Federal Reserve foreign exchange intervention foreign exchange market future monetary policy German call money Granger Causality Granger-Causality tests hypothesis impulse response functions innovations interest differentials interest rates intervention and monetary intervention helps predict Japanese call money lag length lagging intervention lags greater Library Liquidity Effects marginal significance levels Martin Feldstein maximum lag measures of monetary monetary aggregates monetary base monetary indicator monetary model monetary policy variables money supply Mussa Newey-West non-borrowed reserves paper Personal View 4/93 relationship between intervention reports marginal significance signalling story sterilized interventions transmission mechanism U.S. monetary policy U.S. Monetary Variables variables and intervention vector autoregressions Wald test weekly Yen/dollar rate