In: Ekonomický časopis/Journal of Economics, vol. 55, no. 1
Petr Strnad
Details:
Year, pages: 2007, 38 - 53
Keywords:
Keywords: sterilized intervention, foreign exchange market, noise trading theory
JEL Classification: F31, E58, G15
Article type: Vedecký článok
About article:
After the collapse of Bretton Woods’s system, the foreign exchange interventions have experienced the periods of rises and falls and neither theoretical, nor empi-rical studies were able to agree on its efficiency. This paper summarizes the results of previous researches, and introduces and evaluates the theoretical transmission channels – the portfolio-balance channel, the signalling channel, and noise trading theory. The greatest attention is given to the noise trading theory, which represents the latest transmission channel and reflects the micro-structure of foreign exchange markets.
How to cite:
ISO 690:
Strnad, P. 2007. Efektivita sterilizovaných měnových intervencí. In Ekonomický časopis/Journal of Economics, vol. 55, no.1, pp. 38-53. 0013-3035.
APA:
Strnad, P. (2007). Efektivita sterilizovaných měnových intervencí. Ekonomický časopis/Journal of Economics, 55(1), 38-53. 0013-3035.