Chaboud, Alain P.; Humpage, Owen F. - Federal Reserve Bank of Cleveland - 2003
success than small, frequent interventions.
Keywords: Intervention, foreign-exchange rates, Japan
JEL Classification: F3 … notable exception, have greatly curtailed their foreign-exchange
interventions. That exception has been Japan, where the … Ministry of Finance (MoF),
using the Bank of Japan as its agent, has continued to intervene frequently—and at times
massively …