Intervention from an information perspective |
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| Authors: | Richard T Baillie Owen F Humpage William P Osterberg |
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| Institution: | 1. Federal Reserve Bank of Atlanta, United States;2. University of Toronto, Canada;3. Imperial College London and Queen Mary University of London, United Kingdom |
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| Abstract: | This paper surveys some important recent developments, which have the common theme of interpreting intervention in terms of its effects on the flow of information. The article considers the role of information in generating expectations, the formation of trading rules, price discovery, and the importance of institutional arrangements for the implementation of intervention policy. Suggestions for future research directions are discussed. |
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| Keywords: | Exchange rates Central bank intervention Information flows |
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