Add to ORKGIn this article we develop a theoretical microstructure model of coordinated central bank intervention based on asymmetric information. We study the economic implications of coordination on some measures of market quality and show that the model predicts higher volatility and more significant exchange rate changes when central banks coordinate compared to when they intervene unilaterally. Both these predictions are in line with empirical evidence. Keywords: coordinated foreign exchange intervention, market microstructure. JEL Classification: D82, E58, F31, G1
Using high frequency data this paper finds strong evidence that, on average, by creating market unce...
This paper explores whether official intervention signaling effects on short-run exchange rate movem...
This study reviews the market intervention technique used by central banks for the management of exc...
In this article we develop a theoretical microstructure model of coordinated central bank interventi...
The coordination channel has been proposed as a means by which foreign exchange market intervention ...
If strong and persistent misalignments of the exchange rate are caused by non-fundamental influences...
This dissertation focuses on the effect of central bank intervention on the exchange rate movements....
Central banks often intervene secretly in the foreign exchange market. This secrecy seems to be at o...
This paper studies the consequences of having either an interventionist or a non-interventionist cen...
We test the effectiveness of the interventions performed by the Czech National Bank in the EUR/CZK w...
The scale of unilateral and coordinated intervention in the foreign exchange market by the G-5 count...
This article assesses the impact of official FOREX interventions of the three major central banks in...
Abstract: We find a large positive correlation between daily trading volume in currency futures mark...
We use high frequency data for the mark-dollar exchange rate for the period 1992-1995 to evaluate th...
This paper provides additional empirical evidence on the topic of the effectiveness and the impact o...
Using high frequency data this paper finds strong evidence that, on average, by creating market unce...
This paper explores whether official intervention signaling effects on short-run exchange rate movem...
This study reviews the market intervention technique used by central banks for the management of exc...
In this article we develop a theoretical microstructure model of coordinated central bank interventi...
The coordination channel has been proposed as a means by which foreign exchange market intervention ...
If strong and persistent misalignments of the exchange rate are caused by non-fundamental influences...
This dissertation focuses on the effect of central bank intervention on the exchange rate movements....
Central banks often intervene secretly in the foreign exchange market. This secrecy seems to be at o...
This paper studies the consequences of having either an interventionist or a non-interventionist cen...
We test the effectiveness of the interventions performed by the Czech National Bank in the EUR/CZK w...
The scale of unilateral and coordinated intervention in the foreign exchange market by the G-5 count...
This article assesses the impact of official FOREX interventions of the three major central banks in...
Abstract: We find a large positive correlation between daily trading volume in currency futures mark...
We use high frequency data for the mark-dollar exchange rate for the period 1992-1995 to evaluate th...
This paper provides additional empirical evidence on the topic of the effectiveness and the impact o...
Using high frequency data this paper finds strong evidence that, on average, by creating market unce...
This paper explores whether official intervention signaling effects on short-run exchange rate movem...
This study reviews the market intervention technique used by central banks for the management of exc...