Central Bank Participation in Currency Options Markets:
Gespeichert in:
Internformat
MARC
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| 520 | 3 | |a This paper analyzes whether and how central banks can use currency options to lower exchange rate volatility and maintain (implicit) target zones in foreign exchange markets. It argues that selling rather than buying options will result in market makers dynamically hedging their long option exposure in a stabilizing manner, consistent with the first objective. Selling a "strangle" allows a central bank to increase the credibility of its commitment to a target zone, and could have a lower expected cost than spot market interventions. However, this strategy also exposes the central bank to an unlimited loss potential | |
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Datensatz im Suchindex
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| id | DE-604.BV048347629 |
| illustrated | Not Illustrated |
| indexdate | 2024-12-20T19:42:14Z |
| institution | BVB |
| isbn | 1451856105 9781451856101 |
| language | English |
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| publishDate | 1999 |
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| publisher | International Monetary Fund |
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| spellingShingle | Breuer, Peter Central Bank Participation in Currency Options Markets |
| title | Central Bank Participation in Currency Options Markets |
| title_auth | Central Bank Participation in Currency Options Markets |
| title_exact_search | Central Bank Participation in Currency Options Markets |
| title_full | Central Bank Participation in Currency Options Markets Breuer, Peter |
| title_fullStr | Central Bank Participation in Currency Options Markets Breuer, Peter |
| title_full_unstemmed | Central Bank Participation in Currency Options Markets Breuer, Peter |
| title_short | Central Bank Participation in Currency Options Markets |
| title_sort | central bank participation in currency options markets |
| url | http://elibrary.imf.org/view/IMF001/01152-9781451856101/01152-9781451856101/01152-9781451856101.xml |
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