Seminario "How can financial constraints force a central bank to exit a currency peg?"
Martes 16 de octubre, 12.30h | Sala 4
Presentado por Julien Pinter
Abstract
Applying ourmodel to the Swiss franc peg, we show that negative equity concerns could have motivated the Swiss central bank early and puzzling peg exit in 2015, therebyproviding a potential explanation for the "Frankenshock". ECB QE policy appears as a potential key driver of this decision. The paper adds to the literature on thelimits of foreign exchange interventions for the particular case of central banks fighting appreciation pressures, a greatly under-researched area.
Julien pinter
Applying ourmodel to the Swiss franc peg, we show that negative equity concerns could have motivated the Swiss central bank early and puzzling peg exit in 2015, therebyproviding a potential explanation for the "Frankenshock". ECB QE policy appears as a potential key driver of this decision. The paper adds to the literature on thelimits of foreign exchange interventions for the particular case of central banks fighting appreciation pressures, a greatly under-researched area.
Julien pinter
Researcher in Monetary Economics, PhD from Université Paris 1 Panthéon-Sorbonne. Member of Labex Refi, co-funder and contributor at Bsi Economics (French think-tank). He was previously intern at the ECB, visiting PhD at Amsterdam University and TA at Université Bruxelles Saint-Louis
Lugar: Campus Alcorta: Av. Figueroa Alcorta 7350, Ciudad de Buenos Aires.
Contacto: Cecilia Lafuente
Contacto: Cecilia Lafuente