Does Asian foreign exchange intervention really hurt Europe? Lessons from a three-asset portfolio model

Sebastian Dullien

International Finance from University Library of Munich, Germany

Abstract: In the current policy debate, it is often argued that foreign exchange interventions by Asian central banks lead to an excessive appreciation of the euro against the dollar. This paper shows that in a three asset portfolio model the opposite holds: Interventions by Japan's central bank strenghten the dollar against the euro.

Keywords: China; Japan; foreign exchange interventions; portfolio model (search for similar items in EconPapers)
JEL-codes: F31 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2005-02-28
New Economics Papers: this item is included in nep-fin and nep-mon
Note: Type of Document - pdf; pages: 10
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://econwpa.ub.uni-muenchen.de/econ-wp/if/papers/0502/0502010.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpif:0502010

Access Statistics for this paper

More papers in International Finance from University Library of Munich, Germany
Bibliographic data for series maintained by EconWPA ( this e-mail address is bad, please contact ).