The Relative Effectiveness of Spot and Derivatives Based Intervention : The Case of Brazil / Milan Nedeljkovic, Christian Saborowski.
This paper studies the relative effectiveness of foreign exchange intervention in spot and derivatives markets. We make use of Brazilian data where spot and non-deliverable futures based intervention have been used in tandem for more than a decade. The analysis finds evidence in favor of a significa...
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Format: | eBook |
Language: | English |
Published: |
Washington, D.C. :
International Monetary Fund,
2017.
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Series: | IMF working paper ;
WP/2017/011. |