Implicit bands in the yen/dollar exchange rate
Francisco Ledesma (),
Manuel Navarro-Ibáñez (),
Jorge Pérez-Rodríguez () and
Simon Sosvilla-Rivero ()
Applied Economics, 2011, vol. 43, issue 10, 1241-1255
This article attempts to identify implicit exchange rate regimes for the yen/dollar exchange rate. To that end, we apply a sequential procedure that considers both the dynamics of exchange rates and central bank interventions to data covering the period from 1971 to 2003. Our results suggest that implicit bands existed in two subperiods: April-December 1980 and March-October 1987, the latter coinciding with the Louvre Accord. Furthermore, the study of the credibility of such implicit bands indicates the high degree of confidence attributed by economic agents to the evolution of the yen/dollar exchange rate within the detected implicit band rate, thus lending further support to the relevance of such implicit bands.
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
Working Paper: Implicit Bands in the Yen/Dollar Exchange Rate (2006)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:taf:applec:v:43:y:2011:i:10:p:1241-1255
Ordering information: This journal article can be ordered from
Access Statistics for this article
Applied Economics is currently edited by Anita Phillips
More articles in Applied Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().