EconStor >
Institut für Weltwirtschaft (IfW), Kiel >
Kieler Arbeitspapiere, IfW >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/57272
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorReitz, Stefanen_US
dc.contributor.authorTaylor, Mark P.en_US
dc.date.accessioned2012-04-13en_US
dc.date.accessioned2012-04-19T07:54:01Z-
dc.date.available2012-04-19T07:54:01Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/57272-
dc.description.abstractThe coordination channel has recently been established as an additional means by which foreign exchange market intervention may be effective. It is conjectured that strong and persistent misalignments of the exchange rate are caused by a coordination failure among fundamentals-based traders. In such situations official intervention may act as a coordinating signal, encouraging traders to engage in stabilizing speculation. We apply the framework developed in Reitz and Taylor (2008) to daily data on the yen-US dollar exchange rate and on Federal Reserve and Japanese Ministry of Finance intervention operations. The results provide further support for the coordination channel of intervention effectiveness.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesKiel Working Papers 1765en_US
dc.subject.jelC10en_US
dc.subject.jelF31en_US
dc.subject.jelF41en_US
dc.subject.ddc330en_US
dc.subject.keywordforeign exchange interventionen_US
dc.subject.keywordcoordination channelen_US
dc.subject.keywordSTR-GARCH modelen_US
dc.titleFX intervention in the yen-US dollar market: A coordination channel perspectiveen_US
dc.typeWorking Paperen_US
dc.identifier.ppn690107919en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Kieler Arbeitspapiere, IfW
Publikationen von Forscherinnen und Forschern des IfW

Files in This Item:
File Description SizeFormat
690107919.pdf271.62 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.