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Roman Horvath
''Modelling Central Bank Intervention Activity under Inflation Targeting''
( 2007, Vol. 6 No.29 )
Using daily data from the Czech Republic in 1/1/1998-31/12/2002, we find that foreign exchange intervention activity is determined by the degree of exchange rate misalignment and lagged intervention. Additionally, inflation targeting regime is a binding constraint of intervention activity.
JEL: F4 - Macroeconomic Aspects of International Trade and Finance: General
F3 - International Finance: General
Manuscript Received : Jun 04 2007 Manuscript Accepted : Aug 02 2007

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