IS IT SIGNALING - EXCHANGE INTERVENTION AND THE DOLLAR DEUTSCHEMARK RATE
成果类型：
Article
署名作者：
GHOSH, AR
刊物名称：
JOURNAL OF INTERNATIONAL ECONOMICS
ISSN/ISSBN：
0022-1996
DOI：
10.1016/0022-1996(92)90017-E
发表日期：
1992
页码：
201-220
关键词：
摘要：
The portfolio balance channel for sterilised intervention is tested by examining the effects of changes in relative asset supplies on the dollar-Deutschemark rate during the 1980s. In contrast to previous studies. we control for any signalling effects of central bank intervention and find a weak, but statistically significant, portfolio balance influence on the exchange rate.