This article provides a comprehensive history of anchor or reference currencies, exchange
rate arrangements, and a new measure of foreign exchange restrictions for 194 countries …

This paper employs an updated algorithm and database for classifying exchange rate and
anchor currency choice, to explore the evolution of the global exchange rate system …

This study examines whether pre-crisis international reserve accumulations, as well as
exchange rate and reserve policy decisions made during the global financial crisis, can help …

The high‐frequency analysis of foreign exchange dynamics is helpful in order to better
identify the impact of central bank interventions. Evidence robustly shows that interventions …

The aim of this study is to examine the behaviour of central banks in managing their foreign
exchange reserves. This includes measuring the effects of macroeconomic fundamentals on …

We survey the literature on the efficacy of foreign exchange market intervention in emerging
market countries, emphasising the differences with the literature on industrial countries. We …

Policymakers in many emerging markets are attempting to resist currency appreciation while
simultaneously meeting targets for inflation. Using the recent experience of Colombia …

This article discusses the role of foreign exchange interventions in the inflation‐targeting
regime, focusing on the Czech experience since 1998. We find some evidence that the …

This paper examines heterogeneity in exchange rate expectations. Whereas agents'
heterogeneity is key in modern exchange rate models, evidence on determinants of …

Michael Bordo, Owen Humpage, and Anna Schwartz explore the evolution of exchange-
market policyprimarily foreign-exchange interventionin the United States. Based on decades …