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Does foreign exchange intervention reduces the exchange rate volatility?

Takeshi Hoshikawa

Applied Financial Economics Letters, 2008, vol. 4, issue 3, 221-224

Abstract: We report that the Japanese foreign exchange intervention reduces the yen/US dollar exchange rate volatility. Numerous studies generally concluded that foreign exchange interventions increased exchange rate volatility using daily data. The results of our article using monthly data are contrary to results of previous studies.

Date: 2008
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Handle: RePEc:taf:apfelt:v:4:y:2008:i:3:p:221-224