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Exchange market pressure and the Reserve Bank of India’s intervention activity

✍ Scribed by Mirza Allim Baig; V. Narasimhan; M. Ramachandran


Book ID
114126258
Publisher
Elsevier Science
Year
2003
Tongue
English
Weight
137 KB
Volume
25
Category
Article
ISSN
0161-8938

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✍ Eria Hisali 📂 Article 📅 2010 🏛 John Wiley and Sons 🌐 English ⚖ 237 KB

## Abstract This paper employs conditional probabilities generated from a homogenous two‐state Markov chain to obtain maximum likelihood estimates of the efficacy of central bank intervention on the foreign exchange market in Uganda. This enables us to explicitly model the fact that intervention ac