The Accuracy of Press Reports Regarding the Foreign Exchange Interventions of the Bank of Japan

This paper presents evidence on the accuracy of press reports regarding the foreign exchange market interventions conducted by the Bank of Japan (BoJ) between January 1995 and December 1999. We find that the reports of interventions in the financial press are a relatively inaccurate indicator for the actual interventions of the BoJ. We also find that the accuracy of press reports of BoJ interventions is higher for those interventions which were carried out jointly by the BoJ and the Federal Reserve.

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Year of publication:	2002
Authors:	Frenkel, Michael ; Pierdzioch, Christian ; Stadtmann, Georg
Publisher:	Kiel : Kiel Institute of World Economics (IfW)
Subject:	Wechselkurspolitik \| Staatliche Information \| Wirtschaftsinformation \| Monetärer Indikator \| Schätzung \| Japan \| Foreign exchange market \| Central bank interventions \| Press reports of interventions \| Bank of Japan

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Series:	Kiel Working Paper ; 1108
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	752143085 [GVK] hdl:10419/17775 [Handle] RePEc:zbw:ifwkwp:1108 [RePEc]
Classification:	F31 - Foreign Exchange ; G14 - Information and Market Efficiency; Event Studies ; G15 - International Financial Markets ; F33 - International Monetary Arrangements and Institutions
Source:	EconStor

Persistent link: https://www.econbiz.de/10010260509