01491cas a2200241 a 4500 AALejournalIMF001932 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451848434 1018-5941 BD-DhAAL BD-DhAAL Dutta, Jayasri. Dread of Depreciation : Measuring Real Exchange Rate Interventions / Jayasri Dutta. Washington, D.C. : International Monetary Fund, 2002. 1 online resource (36 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We specify an empirical framework to detect the effects of official intervention on real exchange rate dynamics. Using data for 27 advanced and emerging market economies, we find evidence that interventions are a near-universal practice; almost all countries intervene when real exchange rates depreciate; interventions reduce the degree of persistence in real exchange rates; and the defense of an overvalued currency tends to be contractionary. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2002/063 Full text available on IMF http://elibrary.imf.org/view/journals/001/2002/063/001.2002.issue-063-en.xml IMF e-Library