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New evidence on the effectiveness of foreign exchange market intervention

โœ Scribed by Kees G. Koedijk; Bruce Mizrach; Philip A. Stork; Casper G. de Vries


Book ID
115875206
Publisher
Elsevier Science
Year
1995
Tongue
English
Weight
502 KB
Volume
39
Category
Article
ISSN
0014-2921

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โœ Kleopatra Nikolaou; Lucio Sarno ๐Ÿ“‚ Article ๐Ÿ“… 2006 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 180 KB

A large empirical literature has tested the unbiasedness hypothesis in the foreign-exchange market with the use of forward exchange rates. This article amends the conventional testing framework to exploit the information in currency options, with a newly constructed data set for three major dollar e