An assessment of the impact of Japanese foreign exchange intervention
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An assessment of the impact of Japanese foreign exchange intervention 1991-2004 by Alain P. Chaboud

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Published by Federal Reserve Board in Washington, D.C .
Written in English


Book details:

Edition Notes

StatementAlain P. Chaboud and Owen Humpage.
SeriesInternational finance discussion papers ;, no. 824, International finance discussion papers (Online) ;, no. 824.
ContributionsHumpage, Owen F.
Classifications
LC ClassificationsHG3879
The Physical Object
FormatElectronic resource
ID Numbers
Open LibraryOL3477174M
LC Control Number2005616803

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  We analyze the short-term price impact of Japanese foreign exchange intervention operations between and , using official data from Japan's Ministry of Finance. Over the period as a whole, we find some evidence of a modest against the wind effect, but interventions do not have value as a forecast that the exchange rate will move in a Cited by: We analyze the short-term price impact of Japanese foreign exchange intervention operations between and , using official data from Japan's Ministry of Finance. Downloadable! We analyze the short-term price impact of Japanese foreign exchange intervention operations between and , using official data from Japan's Ministry of Finance. Over the period as a whole, we find some evidence of a modest \\"against the wind\\" effect, but interventions do not have value as a forecast that the exchange rate will move in a direction consistent with the. BibTeX @INPROCEEDINGS{Chaboudan, author = {Alain P. Chaboud and Owen F. Humpage and Alain P. Chaboud and Owen F. Humpage}, title = { An Assessment of the Impact of Japanese Foreign Exchange Interventions}, booktitle = { Board of Governors of the Federal Reserve System International Finance Discussion Papers}, year = {}}.

An assessment of the impact of Japanese foreign exchange intervention: By Alain P. Chaboud and Owen Humpage. Abstract. We analyze the short-term price impact of Japanese foreign exchange intervention operations between and , using official data from Japan's Ministry of Finance. Over the period as a whole, we find some. Using newly released data on Japanese foreign exchange intervention, our global GARCH estimation suggests that Japanese foreign exchange interventions between and had the intended effect, but at the cost of higher exchange rate volatility.   I propose a new variable to assess the effect of the Japanese foreign exchange (FX) intervention. The variable is the probability of an FX rate reaching one threshold before the other threshold is reached. Importantly, the probability depends on not only the level but also the trend and volatility of a current FX rate.   Eric Hillebrand, Gunther Schnabl, A structural break in the effects of Japanese foreign exchange intervention on yen/dollar exchange rate volatility, International Economics and Economic Policy, /s, 5, 4, (), ().

An Analysis of Japanese Foreign Exchange Interventions, – Intervention, forei gn-exchange rates, Japan. small but persistent impact about 50% of the time. New assessment of the Japanese foreign exchange intervention: A stopping time approach. 早稲田大学 北村能寛. I propose a new variable to assess the effect of the Japanese foreign exchange (FX) intervention. The variable is the probability of an FX rate reaching one threshold before the other threshold is reached.   Concerning intervention variables, the purchase of foreign exchange by the BOJ is intended to depreciate the yen, and thus exchange rates are predicted to be a positive function of JPINTSOL and JOINT. Overall, the matter of whether or not Japanese interventions were effective in our sample period is determined by the statistical significance of.   This would be particularly true for Japan, where the prevailing close-to-zero nominal short-term interest rates create ambiguity about the impact of foreign exchange intervention on the money supply. In this Economic Letter, I examine the conditions under which economic theory would predict that foreign exchange interventions under near-zero.