Federal Reserve Bank of Cleveland
Why intervention rarely works
Foreign-exchange-market intervention is generally ineffective when undertaken independent of monetary policy. But when undertaken as a goal of monetary policy, exchange-rate management can compromise price stability. This Economic Commentary explains the difficulties of implementing an intervention policy.
Cite this item
Owen F. Humpage & William P. Osterberg, "Why intervention rarely works"
, Federal Reserve Bank of Cleveland, Economic Commentary, issue Feb, 2000.
Keywords: Foreign exchange - Law and legislation ; Monetary policy
This item with handle RePEc:fip:fedcec:y:2000:i:feb1
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