A New Method for Identifying the Effects of Foreign Exchange Interventions

Material TypeArticleLanguageEnglish
TitleA New Method for Identifying the Effects of Foreign Exchange Interventions Author(S)CHIH-NAN CHEN (Author)
Abstract  Central banks react even to intraday changes in the exchange rate; however, in most cases, intervention data are available only at a daily frequency. This temporal aggregation makes it difficult to identify the effects of interventions on the exchange rate. We apply the Bayesian Markov-chain Monte Carlo (MCMC) approach to this endogeneity problem ...Paginationp1507–1533
SubjectEconomicsDescriptorsEconomics
Journal TitleJournal of Money, Credit, and Banking  
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