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Replication data for: When Is Foreign Exchange Intervention Effective? Evidence from 33 Countries

Version
V0
Resource Type
Dataset
Creator
  • Fratzscher, Marcel
  • Gloede, Oliver
  • Menkhoff, Lukas
  • Sarno, Lucio
  • Stöhr, Tobias
Publication Date
2019-01-01
Description
  • Abstract

    This paper examines foreign exchange intervention based on novel daily data covering 33 countries from 1995 to 2011. We find that intervention is widely used and an effective policy tool, with a success rate in excess of 80 percent under some criteria. The policy works well in terms of smoothing the path of exchange rates, and in stabilizing the exchange rate in countries with narrow band regimes. Moving the level of the exchange rate in flexible regimes requires that some conditions are met, including the use of large volumes and that intervention is made public and supported via communication.
Availability
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Relations
  • Is supplemented by
    DOI: 10.1257/mac.20150317 (Text)
Publications
  • Fratzscher, Marcel, Oliver Gloede, Lukas Menkhoff, Lucio Sarno, and Tobias Stöhr. “When Is Foreign Exchange Intervention Effective? Evidence from 33 Countries.” American Economic Journal: Macroeconomics 11, no. 1 (January 2019): 132–56. https://doi.org/10.1257/mac.20150317.
    • ID: 10.1257/mac.20150317 (DOI)

Update Metadata: 2019-10-13 | Issue Number: 1 | Registration Date: 2019-10-13

Fratzscher, Marcel; Gloede, Oliver; Menkhoff, Lukas; Sarno, Lucio; Stöhr, Tobias (2019): Replication data for: When Is Foreign Exchange Intervention Effective? Evidence from 33 Countries. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. http://doi.org/10.3886/E114131