| By: |
Fratzscher, Marcel;
Heidland, Tobias;
Menkhoff, Lukas;
Sarno, Lucio;
Schmeling, Maik |
| Abstract: |
We construct a novel database of monthly foreign exchange interventions for 49
countries over up to 22 years. We build on a text classification approach that
extracts information about interventions from news articles and calibrate our
procedure to data about actual interventions. Our new dataset allows us to
document stylized facts about the use of foreign exchange interventions for
countries that neither publish their data nor make them available to
researchers. Moreover, we show that foreign exchange interventions are used in
a complementary way with capital controls and macroprudential regulation. |
| Keywords: |
foreign exchange intervention,capital controls,macroprudential regulation,international capital flows |
| JEL: |
F31 F33 E58 |
| Date: |
2020 |
| URL: |
http://d.repec.org/n?u=RePEc:zbw:ifwkwp:2171&r=all |