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Journal Article

Central-bank intervention: recent literature, continuing controversy


Abstract: A review of recent literature on central-bank intervention in exchange markets, finding some qualified support for the power of intervention to influence market expectations, but finding little evidence to support the interventionist policy the G-3 countries have conducted in recent years.

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Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Review

Publication Date: 1991

Volume: 27

Issue: Q II

Pages: 12-26