Napredna pretraga

Pregled bibliografske jedinice broj: 953280

The effectiveness of foreign exchange intervention in Croatia


Lang, Maroje
The effectiveness of foreign exchange intervention in Croatia // Fifth Annual Conference of Bank of Albania: Central Banking in the Time of Integration
Tirana, Albanija: Bank of Albania, 2005. str. 465-500 (predavanje, međunarodna recenzija, cjeloviti rad (in extenso), znanstveni)


Naslov
The effectiveness of foreign exchange intervention in Croatia

Autori
Lang, Maroje

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Fifth Annual Conference of Bank of Albania: Central Banking in the Time of Integration / - Tirana, Albanija : Bank of Albania, 2005, 465-500

Skup
Central banking in the time of integration : fifth annual conference of Bank of Albania

Mjesto i datum
Drač, Albanija, 24-25.03.2005.

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Monetary policy ; exchange rate ; foreign exchange intervention

Sažetak
The purpose of this paper is to empirically explore the effectiveness of foreign exchange intervention in Croatia. Foreign exchange intervention is the main policy instrument of the Croatian National Bank (CNB), since, due to the prevailing eurisation in Croatia, monetary policy operates primarily through the exchange rate channel. This paper describes the mechanics and implementation of foreign exchange interventions and presents their statistics. For that purpose the reaction function of the CNB is estimated. The hypothesis that the foreign exchange intervention is effective is supported with the stability of the exchange rate during the last decade, as well as their profitability. In addition, two different statistical methods are employed - the time series analysis and the event study. The event study methodology is used to analyse the elements that influence the effectiveness of individual interventions.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija



POVEZANOST RADA


Autor s matičnim brojem:
Maroje Lang, (369471)