the wind' or not and whether it contributes to a decrease of exchange rate volatility or not. Central bank's loss function … and 2SLS regression were used for each analysis respectively.The empirical estimation results show that Korea's foreign … operation contributes to the stabilization of exchange rate volatility …

are the key variables explaining the movement of foreign exchange reserves before the crisis, the volatility of the …

. Among economic factors, Won/dollar exchange rate volatility is found to have significant explanatory power on the magnitude …