The Yen-Dollar Rate: Have Interventions Mattered?
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Beteilige Person: Ramaswamy, Ramana (VerfasserIn)
Format: Elektronisch E-Book
Sprache:Englisch
Veröffentlicht: Washington, D.C International Monetary Fund 2000
Schriftenreihe:IMF Working Papers Working Paper No. 00/95
Links:http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
http://elibrary.imf.org/view/IMF001/07388-9781451851816/07388-9781451851816/07388-9781451851816.xml
Abstract:Using daily data for 1995-99, this paper estimates a simple forward looking model of the exchange rate to show that foreign exchange interventions have, on the whole, had small but persistent effects on the yen-dollar rate. Contrary to conventional wisdom, sterilized interventions have mattered. Consistent with conventional wisdom, coordinated interventions have a higher probability of success and move the yen-dollar rate by a larger margin than unilateral interventions. A probit model indicates that both an excessive appreciation and depreciation of the yen provoke interventions, and that interventions occur in clusters-if there is one today, there will likely be another tomorrow
Umfang:1 Online-Ressource (25 p)
ISBN:1451851812
9781451851816