Why intervention rarely works

Owen Humpage and William P. Osterberg

Economic Commentary, 2000, issue Feb

Abstract: 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.

Keywords: Foreign exchange - Law and legislation; Monetary policy (search for similar items in EconPapers)
Date: 2000
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