An analysis of recent studies of the effect of foreign exchange intervention

by Christopher J. Neely

"Two recent strands of research have contributed to our understanding of the effects of foreign exchange intervention: 1) the use of high frequency data; 2) the use of event studies to evaluate the effects of intervention. This article surveys recent empirical studies of the effect of foreign exchange intervention and analyzes the implicit assumptions and limitations of such work. After explicitly detailing such drawbacks, the paper suggests ways to better investigate the effects of intervention"--Federal Reserve Bank of St. Louis web site

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Year of publication:	May 2005
Other Persons:	Neely, Christopher J. (contributor)
Institutions:	Federal Reserve Bank of St. Louis (contributor)
Subject:	Wechselkurspolitik \| Exchange rate policy \| Ankündigungseffekt \| Announcement effect \| Statistische Methode \| Statistical method \| Welt \| World