Intervention and the risk premium in foreign exchange rates

William P. Osterberg

No 8908, Working Papers (Old Series) from Federal Reserve Bank of Cleveland

Abstract: An analysis of how central-bank exchange-market intervention can affect both the level of exchange rates and the risk premium in asset returns, showing how the risk premium is related to the conditional variances of intervention and other exogenous processes.

Keywords: Foreign exchange - Law and legislation; Risk; Foreign exchange rates (search for similar items in EconPapers)
Date: 1989
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