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ZJUS-A
Journal of Zhejiang University-SCIENCE A (Applied Physics & Engineering)  2002, Vol. 3 Issue (4): 445-448    DOI: 10.1631/jzus.2002.0445
Applied Mathematics     
An exchange rate determination model for central banks\' interventions in financial markets
LIN Jun-qing, HUANG Zu-hui, ZHAN Ming-hua
College of Management, Zhejiang University, Hangzhou 310029, China
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Abstract  We establish an exchange rate determination model for central banks\' in terventions in financial markets. The model shows that central banks can adjust exchange rate by several policy instruments and that different instruments may have different effects on exchange rate determination. It specifies potential policy instruments for central banks as well as their policy effects. Based on these effects, feasible matches of policy instruments in contingent intervention are put forth.

Key words： Intervention of exchange rate      Financial market      Exchange rate determination     
Received: 10 December 2001     
CLC:  O29  
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LIN Jun-qing
HUANG Zu-hui
ZHAN Ming-hua
Cite this article:

LIN Jun-qing, HUANG Zu-hui, ZHAN Ming-hua. An exchange rate determination model for central banks\' interventions in financial markets. Journal of Zhejiang University-SCIENCE A (Applied Physics & Engineering), 2002, 3(4): 445-448.

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http://www.zjujournals.com/xueshu/zjus-a/10.1631/jzus.2002.0445     OR     http://www.zjujournals.com/xueshu/zjus-a/Y2002/V3/I4/445

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