Economics, Econometrics and Finance
4 years ago

Japanese interventions increase volatility in Yen/U.S. Dollar exchange rate.

The Effects of Japanese Foreign Exchange Market Interventions on the Yen/U.S. Dollar Exchange Rate Volatility
Michael Frenkel, Christian Pierdzioch, Georg Stadtmann

Paper Summary

Interventions by the Bank of Japan increased the volatility of the yen/U.S. dollar exchange rate from 1993 to 2000. These interventions, especially those not reported in the financial press, were linked to higher exchange rate volatility.

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