Discussion of Anna J. Schwartz, 'the Rise and Fall of Foreign Exchange Market Intervention as a Policy Tool'
5 Pages Posted: 7 Nov 2004
Anna's analysis focuses on the question of why foreign exchange market intervention has fallen into disfavor in policy circles in most major countries. Only the Bank of Japan continues to intervene, Anna claims. Other central banks, including the Fed, abandoned the practice during the course of the last decade.
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