Jara R., Alejandro; Piña, Marco - In: Latin American journal of central banking : LAJCB 4 (2023) 2, pp. 1-27
regime in the late 1990s. In particular, we ask whether these interventions have dumped excess exchange rate volatility and … reduced its probability of being in a high volatility state. To do so, we rely on a high-frequency GARCH(1,1) volatility model … that FX interventions in Chile tend to occur during high exchange rate volatility periods, which correlate with domestic …