Li, Jie - In: Applied Economics Letters 19 (2012) 13, pp. 1305-1309
The conventional Exchange Market Pressure Index (EMPI), originated from Girton and Roper (1977) and popularized by Eichengreen <italic>et al.</italic> (1994, 1995) and Weymark (1995), uses weighted average of loss of foreign reserves and depreciation of local currency to capture foreign exchange market pressure....