Abstract:Article History
KeywordsAsymmetric preferences Foreign exchange market Intervention Emerging markets Exchange rate volatility Optimal reaction function GMM.
JEL Classification:E58; E61; F31; G15.Policymakers in emerging market economies intervene in currency markets to counter appreciation or depreciation pressure, while also responding to the degree of exchange rate volatility. This paper investigates whether the asymmetric response in terms of foreign exchange intervention depends on the degree of exchange r… Show more
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