Post-Louvre intervention: did target zones stabilize the dollar?

Richard Baillie and Owen Humpage

No 9203, Working Papers (Old Series) from Federal Reserve Bank of Cleveland

Abstract: An investigation of whether the G-3 nations (Germany, Japan, and the U.S.) successfully maintained target zones following the G-7's February 1987 Louvre meeting. Using daily, official intervention data and simultaneous-equation techniques, the authors determine that the G-3 reacted in a manner consistent with maintaining target zones, but find scant evidence that the intervention successfully influenced subsequent exchange-rate movements.

Keywords: Foreign exchange - Law and legislation; Dollar, American (search for similar items in EconPapers)
Date: 1992
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