search query: @indexterm economic conditions / total: 1703
reference: 234 / 1703
| Author: | Esaka, T. |
| Title: | The Louvre Accord and central bank intervention: was there a target zone? |
| Journal: | Japan and the World Economy
2000 : MAY, VOL. 12:2, p. 107-126 |
| Index terms: | CENTRAL BANKS ECONOMIC CONDITIONS JAPAN |
| Language: | eng |
| Abstract: | This paper presents an empirical analysis of central bank intervention during the 10-month period following the Louvre Accord. The author first examines whether the Bank of Japan and the Federal Reserve adopted a target zone in order to stabilize the yen-dollar exchange rate, by using daily foreign exchange intervention data. The author then estimates the expected future exchange rate and the expected rate of devaluation in order to verify if there was a credible target zone. |
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