We examine central bank intervention in foreign exchange markets using a dynamic censored regression model. We allow the amount of purchase and sale interventions to depend nonlinearly upon lagged values of intervention and on measures of disorderly foreign exchange markets. Using data for the...

In this paper, we revisit the unsettled discussion of whether retail fuel oil prices respond asymmetrically to oil price shocks. Using a novel micro approach that considers each price spell separately; we find evidence of pass-through asymmetry in the fuel oil market in Turkey. With our approach...