期刊名称：Dundee Discussion Papers in Economics / Department of Economic Studies, University of Dundee
印刷版ISSN：1473-236X
出版年度：2011
卷号：1
页码：1-29
出版社：Dundee University
摘要：This paper presents a theoretical framework analysing the signalling channel of exchange
rate interventions as an informational trigger. We develop an implicit target
zone framework with learning in order to model the signalling channel. The theoretical
premise of the model is that interventions convey signals that communicate
information about the exchange rate objectives of central bank. The model is used to
analyse the impact of Japanese FX interventions during the period 1999 -2011 on the
yen/US dollar dynamics.
