Publication:
The determinants of foreign exchange intervention by central banks: evidence from Australia

dc.contributor.author Kim, Suk-Joong en_US
dc.contributor.author Sheen, Jeffery en_US
dc.date.accessioned 2021-11-25T13:37:44Z
dc.date.available 2021-11-25T13:37:44Z
dc.date.issued 2002 en_US
dc.description.abstract Intervention by the Reserve Bank of Australia on foreign exchange markets from 1983 to 1997 is conjectured to have been determined by exchange rate trend correction, exchange rate volatility smoothing, the US and Australian overnight interest rate differentials, profitability and foreign currency reserve inventory considerations. Using Probit and friction models, we show that these factors were significant influences on intervention behavior. Consistent with the constraint of intervening only when a clear trend is apparent, we find that above average measures of deviations from trend and of volatility muted the response of the Reserve Bank. en_US
dc.identifier.issn 0261-5606 en_US
dc.identifier.uri http://hdl.handle.net/1959.4/40153
dc.language English
dc.language.iso EN en_US
dc.rights CC BY-NC-ND 3.0 en_US
dc.rights.uri https://creativecommons.org/licenses/by-nc-nd/3.0/au/ en_US
dc.source Legacy MARC en_US
dc.title The determinants of foreign exchange intervention by central banks: evidence from Australia en_US
dc.type Journal Article en
dcterms.accessRights open access
dspace.entity.type Publication en_US
unsw.accessRights.uri https://purl.org/coar/access_right/c_abf2
unsw.identifier.doiPublisher http://dx.doi.org/10.1016/S0261-5606(02)00011-6 en_US
unsw.relation.faculty Business
unsw.relation.ispartofjournal Journal of International Money and Finance en_US
unsw.relation.ispartofpagefrompageto 619-649 en_US
unsw.relation.ispartofvolume 21 en_US
unsw.relation.originalPublicationAffiliation Kim, Suk-Joong, Banking & Finance, Australian School of Business, UNSW en_US
unsw.relation.originalPublicationAffiliation Sheen, Jeffery en_US
unsw.relation.school School of Banking & Finance *
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