FXI database

We construct a novel database of monthly foreign exchange interventions for 49 countries over up to 22 years. We build on a text classification approach that extracts information about interventions from news articles and calibrate our procedure to data about actual interventions. This new dataset allows us to document stylized facts about the use of foreign exchange interventions for countries that neither publish their data nor make them available to researchers. Moreover, we provide evidence on how foreign exchange interventions are used in conjunction with capital controls and macroprudential policy.

本研究构建了一套全新的月度外汇干预（foreign exchange interventions）数据库，涵盖49个国家最长达22年的相关数据。本研究采用文本分类方法从新闻报道中提取外汇干预相关信息，并以实际干预数据对提取流程进行校准。借助这套全新数据集，我们能够为那些既未公开自身外汇干预数据、也未向研究者开放相关数据的国家，梳理并阐明其使用外汇干预的典型化事实。此外，本研究还提供了外汇干预与资本管制（capital controls）、宏观审慎政策（macroprudential policy）协同使用的实证证据。