#2231. The effectiveness of currency intervention: Evidence from Mongolia

September 2026publication date
Proposal available till 30-05-2025
4 total number of authors per manuscript5020 $

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Journal’s subject area:
Finance;
Economics and Econometrics;
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Abstract:
We employ a recent extension of the potential outcomes approach of micro-econometrics to a time-series setting. We conduct our analysis using unique daily data on currency interventions to examine the impact of these interventions on the changes in the exchange rate and its volatility. Both purchases and sales of US dollars are effective in moving changes in the exchange rate in the desired direction when implemented frequently, and the effects are quite persistent.
Keywords:
Causal effect; Currency intervention; Exchange rate; Local projection; Treatment effect

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