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Received: 2001-12-10
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An exchange rate determination model for central banks' interventions in financial markets
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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.
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author="LIN Jun-qing, HUANG Zu-hui, ZHAN Ming-hua",
journal="Journal of Zhejiang University Science A",
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pages="445-448",
year="2002",
publisher="Zhejiang University Press & Springer",
doi="10.1631/jzus.2002.0445"
}
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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.
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