This paper presents stylized facts concerning the spot intra-daily foreign exchange markets. It first describes intra-daily data and proposes a set of definitions for the quantities of interest. Empirical regularities of the foreign exchange intra-daily data are then grouped under three major...

This paper deals with the determination of the presence of a low-dimensional fractal attractor in the foreign exchange (FX) markets. In addition to endogenous nonlinear dynamics, we allow for the presence of a small stochastic component by using two nonlinear filters in conjunction with the...

On December 18, 2010, Iran increased domestic energy and agricultural prices by up to 20 times, making it the first major oil-exporting country to reduce substantially implicit energy subsidies. This paper reviews the economic and technical issues involved in the planning and early...

This paper analyzes experience with monetary policy in Africa, focusing on countries that have participated in rule-based regional monetary agreements (CFA Zone, East African Currency Board and Rand Monetary Area). We show that African countries have generally lacked the political institutions...

In the late 1980s, as the empirical appeal of macro-economic exchange rate models began to fade, a few people including Professor Charles Goodhart at the London School of Economics and researchers at Olsen & Associates in Zurich, started to collect intra-daily exchange rate data. The resulting...

This paper presents stylized facts concerning the spot intra-daily foreign exchange markets. It first describes intra-daily data and proposes a set of definitions for the variables of interest. Empirical regularities of the foreign exchange intra-daily data are then grouped under three major...