Economics at your fingertips  

ECB Foreign Exchange Intervention and the EURO: Institutional Framework, News, and Intervention

Rasmus Fatum and Michael Hutchison ()

Open Economies Review, 2002, vol. 13, issue 4, 413-425

Abstract: Using a unique intervention “news” data set, this paper investigates the impact of ECB intervention and intervention-related news (newswire reports) on the Euro exchange rate. A time-series study of news generated by ECB officials and market participants regarding intervention and the value of the Euro as well as an event study of firm reports of ECB intervention is conducted. Both studies find significant short-run effects on the Euro value, while only “negative” statements (official statements denying past intervention or ruling out future intervention) appear to have persistent effects. Copyright Kluwer Academic Publishers 2002

Keywords: foreign exchange market intervention; Euro; central bank intervention (search for similar items in EconPapers)
Date: 2002
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (39) Track citations by RSS feed

Downloads: (external link) (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: ECB Foreign Exchange Intervention and the Euro: Institutional Framework, News and Intervention Downloads
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:

Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/11079/PS2

Access Statistics for this article

Open Economies Review is currently edited by G.S. Tavlas

More articles in Open Economies Review from Springer
Bibliographic data for series maintained by Sonal Shukla ().

Page updated 2019-04-08
Handle: RePEc:kap:openec:v:13:y:2002:i:4:p:413-425