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 …

. Based on this example, we can see that central bank intervention in some cases can be very useful in order to correct … level so as to have enough space for foreign exchange intervention, without the risk of falling foreign exchange reserves …

intervention period. Using autoregressive models, they quantify the extent of pass-through of an exchange rate shock to different … intervention than from the precrisis period. The exchange rate effect on inflation was thus in a better accordance with theory … during the intervention period. As such, currency depreciation did have a positive effect on inflation in Switzerland. …

This paper investigates the real-time effects of foreign exchange intervention using official intraday intervention … data provided by the Danish central bank. Denmark is currently pursuing an active intervention policy under the provisions … and Vega (2003) and an array of robustness tests. We find that intervention exerts a statistically and economically …