The interdealer market and the central bank intervention

Detalhes bibliográficos
Autor(a) principal: Albuquerque, Paula C
Data de Publicação: 2005
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/2678
Resumo: This paper studies the consequences of having either an interventionist or a non-interventionist central bank in the foreign exchange market, in a market microstructure framework. Although a simple one-period model is used, it allows the characterization of the effect of the central bank intervention on the behaviour of dealers. The model also identifies the conditions for the dealer that acts as the counterpart of the central bank to be better or worse than the other dealers. The price is expected to be more informative with an interventionist central bank.
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spelling The interdealer market and the central bank interventionForeign Exchange MarketInterdealer MarketCentral Bank InterventionInformationMarket MicrostructureThis paper studies the consequences of having either an interventionist or a non-interventionist central bank in the foreign exchange market, in a market microstructure framework. Although a simple one-period model is used, it allows the characterization of the effect of the central bank intervention on the behaviour of dealers. The model also identifies the conditions for the dealer that acts as the counterpart of the central bank to be better or worse than the other dealers. The price is expected to be more informative with an interventionist central bank.ISEG – Departamento de EconomiaRepositório da Universidade de LisboaAlbuquerque, Paula C2010-12-14T12:19:53Z20052005-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/2678engAlbuquerque, Paula C.. 2005. "The interdealer market and the central bank intervention". Instituto Superior de Economia e Gestão - DE Working papers nº 9-2005/DE/CISEP0874-4548info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:33:51Zoai:www.repository.utl.pt:10400.5/2678Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:50:38.525837Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv The interdealer market and the central bank intervention
title The interdealer market and the central bank intervention
spellingShingle The interdealer market and the central bank intervention
Albuquerque, Paula C
Foreign Exchange Market
Interdealer Market
Central Bank Intervention
Information
Market Microstructure
title_short The interdealer market and the central bank intervention
title_full The interdealer market and the central bank intervention
title_fullStr The interdealer market and the central bank intervention
title_full_unstemmed The interdealer market and the central bank intervention
title_sort The interdealer market and the central bank intervention
author Albuquerque, Paula C
author_facet Albuquerque, Paula C
author_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Albuquerque, Paula C
dc.subject.por.fl_str_mv Foreign Exchange Market
Interdealer Market
Central Bank Intervention
Information
Market Microstructure
topic Foreign Exchange Market
Interdealer Market
Central Bank Intervention
Information
Market Microstructure
description This paper studies the consequences of having either an interventionist or a non-interventionist central bank in the foreign exchange market, in a market microstructure framework. Although a simple one-period model is used, it allows the characterization of the effect of the central bank intervention on the behaviour of dealers. The model also identifies the conditions for the dealer that acts as the counterpart of the central bank to be better or worse than the other dealers. The price is expected to be more informative with an interventionist central bank.
publishDate 2005
dc.date.none.fl_str_mv 2005
2005-01-01T00:00:00Z
2010-12-14T12:19:53Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/2678
url http://hdl.handle.net/10400.5/2678
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Albuquerque, Paula C.. 2005. "The interdealer market and the central bank intervention". Instituto Superior de Economia e Gestão - DE Working papers nº 9-2005/DE/CISEP
0874-4548
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv ISEG – Departamento de Economia
publisher.none.fl_str_mv ISEG – Departamento de Economia
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
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collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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