Fratzscher, Marcel - 2004
; intervention; policy; United States; euro area;
Japan.
4
ECB
Working Paper Series No. 363
May 2004
Non-technical summary
Exchange … actual interventions,
selling or purchasing foreign exchange only during two episodes since 1995. Only Japan has
continued … purchasing foreign exchange only during two episodes since 1995. Only Japan has
continued and even increased actual interventions …