Optimal Central Bank Intervention in the Foreign Exchange Market of Iran
نویسندگان
چکیده
منابع مشابه
Optimal Intervention in the Foreign Exchange Market: The Case of Iran
In a managed floating exchange rate regime, one of the most important issues is the degree to which the monetary authorities intervene in the foreign exchange market. The appropriate level of intervention in the foreign exchange market can be discussed in a framework which emphasizes the trade-off between changes in the country’s level of international reserves and minimizes the country’s real...
متن کاملoptimal intervention in the foreign exchange market: the case of iran
in a managed floating exchange rate regime, one of the most important issues is the degree to which the monetary authorities intervene in the foreign exchange market. the appropriate level of intervention in the foreign exchange market can be discussed in a framework which emphasizes the trade-off between changes in the country’s level of international reserves and minimizes the country’s real...
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the main purpose of this paper is theoretically to design the optimal intervention in the foreign exchange market in iran, which has not been investigated by previous studies. the economic fundamentals are strongly affected by the optimal foreign exchange intervention, the consistency of foreign exchange intervention with other policies and political authorities' beliefs about the interven...
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the paper examines for the first time the foreign exchange intervention policy in foreign exchange market of iran. and in this framework, the study designs and simulates the foreign exchange intervention model in iran. in the first section, the paper shows that the injection of oil revenues directly to economy and also the absence of potent structure of output are inclusively caused the central...
متن کاملOptimal intervention in the foreign exchange market when interventions affect market dynamics
We address the problem of optimal Central Bank intervention in the exchange rate market when interventions create feedback in the rate dynamics. In particular, we extend the work done on optimal impulse control by Cadenillas and Zapatero (1999, 2000) to incorporate temporary market reactions to Bank interventions. We obtain new explicit optimal impulse control strategies that account for these ...
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ژورنال
عنوان ژورنال: International Journal of Economics and Finance
سال: 2015
ISSN: 1916-9728,1916-971X
DOI: 10.5539/ijef.v7n4p146