bank intervention on exchange rates. Within a heterogeneous expectations exchange rate model intervention operations are … to daily US-dollar/DEM forward rates and intervention data of the Deutsche Bundesbank and the Federal Reserve from 1979 …

bank intervention on exchange rates. Within a heterogeneous expectations exchange rate model intervention operations are … to daily US-dollar/DEM forward rates and intervention data of the Deutsche Bundesbank and the Federal Reserve from 1979 …

Academic literature on foreign exchange market intervention in emerging market countries has grown in recent years … intervention dynamics. The used methodology allows to disentangle the evolution of intervention objectives and their effectiveness …. Furthermore, the development of intervention relationships should be backed by corresponding economic and monetary policy …

This paper describes and analyzes automated intervention of a target zone. Unusually detailed information about the … order book allows studying intervention effects in a microstructure approach. We find in our sample that intervention … increases exchange rate volatility (and spread) for the next minutes but that intervention days show a lower degree of …

beliefs of market participants. We find for our sample that intervention increases exchange rate volatility (and spread) for … the next minutes but that intervention days show a lower degree of volatility (and spread) than non-intervention days. We … also show for intraday data that the price impact of interbank order flow is smaller on intervention days than on non-intervention …

intervention proceeds in US bonds and that a global portfolio balance effect spread the resulting decline in US yields to other …

transaction, the time lapses between interventions, or the number of foreign currencies involved. As such, Riksbank intervention …