Full Text:
<2447>
CLC number: O29
On-line Access: 2024-08-27
Received: 2023-10-17
Revision Accepted: 2024-05-08
Crosschecked: 0000-00-00
Cited: 0
Clicked: 4982
An exchange rate determination model for central banks' interventions in financial markets
| |||||||||||||
LIN Jun-qing, HUANG Zu-hui, ZHAN Ming-hua. An exchange rate determination model for central banks' interventions in financial markets[J]. Journal of Zhejiang University Science A, 2002, 3(4): 445-448.
@article{title="An exchange rate determination model for central banks' interventions in financial markets",
author="LIN Jun-qing, HUANG Zu-hui, ZHAN Ming-hua",
journal="Journal of Zhejiang University Science A",
volume="3",
number="4",
pages="445-448",
year="2002",
publisher="Zhejiang University Press & Springer",
doi="10.1631/jzus.2002.0445"
}
%0 Journal Article
%T An exchange rate determination model for central banks' interventions in financial markets
%A LIN Jun-qing
%A HUANG Zu-hui
%A ZHAN Ming-hua
%J Journal of Zhejiang University SCIENCE A
%V 3
%N 4
%P 445-448
%@ 1869-1951
%D 2002
%I Zhejiang University Press & Springer
%DOI 10.1631/jzus.2002.0445
TY - JOUR
T1 - An exchange rate determination model for central banks' interventions in financial markets
A1 - LIN Jun-qing
A1 - HUANG Zu-hui
A1 - ZHAN Ming-hua
J0 - Journal of Zhejiang University Science A
VL - 3
IS - 4
SP - 445
EP - 448
%@ 1869-1951
Y1 - 2002
PB - Zhejiang University Press & Springer
ER -
DOI - 10.1631/jzus.2002.0445
Abstract: We establish an exchange rate determination model for central banks' in terventions in financial markets. The model shows that central banks can adjust exchange rate by several policy instruments and that different instruments may have different effects on exchange rate determination. It specifies potential policy instruments for central banks as well as their policy effects. Based on these effects, feasible matches of policy instruments in contingent intervention are put forth.
[1] Black, S.W., 1968. Theory and policy analysis of short-term movements in the balance of payments. Yale Economic Review 135: 17-44.
[2] Bluford, P., Sykes, W.D. eds., 1978. The Monetary Approach to International Adjustment. Praeger. New York. p.24-55.
[3] Chen, D.S., 1990. Theories of International Finance. China Finance Press. p.269-278, 496-515, 653-694, (in Chinese).
[4] Dornbusch, R.,1989. Exchange Rate and Inflation. Cambridge Press. MIT. p.176-188.
[5] Hodgman, D.R., 1987, Monetary and Exchange Rate Policy. Macmillan Press, London. p.235-41.
[6] Jiang, B.K., 1994. Study on the Free Convertibility of RMB. Shanghai People's Press, Shanghai. p.45-73, (in Chinese).
[7] Sarker, B.M., Marston, R.C.,Kate, W., 1984. Exchange Rate Theory and Practice. University of Chicago Press. Chicago. p.151-169.
[8] Tsing Shochieh, 1959. The theory of forward exchange and effect of government intervention on the forward exchange market. IMF Staff Papers. 33: 12-23.
[9] William, B.H., 1977. Asset Market and Relative Prices in Exchange Rate Determination. In: Reprints in International Finance. Princeton University Press. No. 20: p.2-27.
Open peer comments: Debate/Discuss/Question/Opinion
<1>