An Analysis of Recent Studies of the Effect of Foreign Exchange Intervention
By Christopher J. Neely. 2005
208 citations recorded by the source corpus.
Two recent strands of research have contributed to our understanding of the effects of foreign exchange intervention: 1) the use of high frequency data; 2) the use of event studies to evaluate the effects of intervention. This article surveys recent empirical studies of the effect of foreign exchange intervention and analyzes the implicit assumptions and limitations of such work. After explicitly detailing such drawbacks, the paper suggests ways to better investigate the effects of intervention.
Subfields: Economics and Econometrics, Finance
View Paper: https://www.semanticscholar.org/paper/c2747824524849ef06677d338e3c34f92f0d5882
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In Economics and Econometrics
In Finance
Citations in the corpus
- Evaluating the impact of unconventional monetary policy measures: Empirical evidence from the ECB׳s Securities Markets Programme (2016, background): “Systematic leaning against increasing yields means that regression methods would tend to understate the effect from interventions; Neely (2005) discusses this effect in the context of central bank foreign exchange interventions.”