Hillebrand, Eric T.; Schnabl, Gunther - 2003
/dollar exchange rate and the volatility in the yen/dollar markets. Using newly released data on Japanese foreign exchange intervention … effect on the same day, but at the cost of higher exchange rate volatility. Testing for the robustness of this finding we … show that the results are highly dependent on the time period. From 1991 to 1998 Japan's official currency purchases were …