We test for the impact of exchange rate volatility on growth in emerging market economies based on the theory of …

volatility at the turn of the millennium when Japanese foreign exchange intervention started to remain unsterilized …

We use realized volatility to study the influence of central bank interventions on the yen/dollar exchange rate …. Realized volatility is a technical innovation that allows specifying a system of equations for returns, realized volatility … increase in volatility associated with interventions. During the period 1999 through 2004, the estimations are consistent with …