Kearney, C. and MacDonald, R. (1986) Intervention and sterilisation under floating exchange rates: the UK 1973–1983. European Economic Review, 30(2), pp. 345-364. (doi: 10.1016/0014-2921(86)90048-6)
Full text not currently available from Enlighten.
Abstract
In this paper a small portfolio balance model, in the spirit of Obstfeld (1983), is estimated for the sterling pound-US dollar exchange rate, over the period 1973 quarter 2 to 1983 quarter 4. It is demonstrated inter alia, that pure, or sterilised, foreign exchange market intervention can be effective, even when agents form expectations rationally.
| Item Type: | Articles |
|---|---|
| Status: | Published |
| Refereed: | Yes |
| Glasgow Author(s) Enlighten ID: | MacDonald, Professor Ronald |
| Authors: | Kearney, C., and MacDonald, R. |
| College/School: | College of Social Sciences > Adam Smith Business School > Economics |
| Journal Name: | European Economic Review |
| Publisher: | Elsevier B.V. |
| ISSN: | 0014-2921 |
| ISSN (Online): | 1873-572X |
University Staff: Request a correction | Enlighten Editors: Update this record
Altmetric
Altmetric