Beine, Michel; Bernal Diaz, Oscar; Gnabo, Jean-Yves; … - Département d'Économie Appliquée (DULBEA), Solvay … - 2006
Intervening in the FX market implies a complex decision process for central banks. Monetary authorities have to decide whether to intervene or not, and if so, when and how. Since the successive steps of this procedure are likely to be highly interdependent, we adopt a nested logit approach to...
