It takes the average reader and 28 minutes to read Macroeconomic Impact of Foreign Exchange Intervention: Some Cross-country Empirical Findings by Mr. Zhongxia Jin
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Based on VAR analyses across 26 countries, we show that, although foreign exchange intervention (FXI) is effective in stabilizing the nominal exchange rate in the short run, its impacts on the real exchange rate are less significant: Limitations on nominal exchange rate flexibility may induce adjustments to the real exchange rate through domestic prices. We find that countries that intervene more heavily in response to external shocks experience greater general and asset price volatility, which is not conducive to countering the impact of external shocks. We show that China’s macroeconomic responses to external shocks are broadly consistent with international experiences among intervening countries. The simple methodological framework adopted in this paper is meant to examine a broad set of macroeconomic variables and bears limitations; our findings serve to motivate more structural analysis on FXI’s macroeconomic impacts going forward.
Macroeconomic Impact of Foreign Exchange Intervention: Some Cross-country Empirical Findings by Mr. Zhongxia Jin is 28 pages long, and a total of 7,224 words.
This makes it 9% the length of the average book. It also has 9% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes and 39 minutes to read Macroeconomic Impact of Foreign Exchange Intervention: Some Cross-country Empirical Findings aloud.
Macroeconomic Impact of Foreign Exchange Intervention: Some Cross-country Empirical Findings is suitable for students ages 8 and up.
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