Affordable Access

Publisher Website

The effectiveness of Japanese foreign exchange interventions during 1991–2001

Authors
Journal
Economics Letters
0165-1765
Publisher
Elsevier
Publication Date
Volume
84
Issue
3
Identifiers
DOI: 10.1016/j.econlet.2004.03.007
Keywords
  • Foreign Exchange Interventions
  • Yen/Dollar Exchange Rates
  • Garch

Abstract

Abstract This paper empirically analyzes the effectiveness of Japanese intervention policies on the yen/US dollar exchange rate over the past decade. Using actual intervention data, this paper suggests that Japanese interventions were effective in affecting exchange rate movements when such operations were coordinated with the Fed. Furthermore, intervention operations were always associated with an increase in exchange rate volatility.

There are no comments yet on this publication. Be the first to share your thoughts.