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The effectiveness of central bank intervention in the EMS: The post 1993 experience

✍ Scribed by Peter Brandner; Harald Grech; Helmut Stix


Book ID
116658728
Publisher
Elsevier Science
Year
2006
Tongue
English
Weight
402 KB
Volume
25
Category
Article
ISSN
0261-5606

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THE EFFICACY OF CENTRAL BANK INTERVENTIO
✍ Eria Hisali πŸ“‚ Article πŸ“… 2010 πŸ› John Wiley and Sons 🌐 English βš– 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