Abstract
The purpose of this paper is to test empirically whether interventions by the Deutsche Bundesbank and the Federal Reserve System in the US dollar-Deutsche Mark spot exchange market were effective during the period from February 1985 until August 1988.
Sylvester Eijffinger was during the summer of 1988 Visiting Scholar at the Deutsche Bundesbank in Frankfurt-am-Main. He wishes to acknowledge Professors Helmut Schlesinger and Leonhard Gleske, Mr Franz Scholl and other employees of the Hauptabteilung Ausland for valuable discussions and for kindly providing daily data of official intervention on a confidential base. It should be noted that this article does not reflect the views of the Deutsche Bundesbank or members of its staff.
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© 1992 Confederation of European Economic Associations
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Eijffinger, S., Gruijters, N. (1992). On the Effectiveness of Daily Intervention by the Deutsche Bundesbank and the Federal Reserve System in the US Dollar — Deutsche Mark Exchange Market. In: Baltensperger, E., Sinn, HW. (eds) Exchange-Rate Regimes and Currency Unions. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-22039-7_7
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DOI: https://doi.org/10.1007/978-1-349-22039-7_7
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