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Foreign exchange market

About: Foreign exchange market is a research topic. Over the lifetime, 6661 publications have been published within this topic receiving 153384 citations. The topic is also known as: forex & FX.


Papers
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Journal ArticleDOI
TL;DR: This article found that central bank intervention had no statistically significant systematic impact on the mean or higher moments of the exchange rate during 1993-2000 and that Japanese authorities appeared to intervene mainly in response to deviations from some implicit target levels and to a rise in market uncertainty.

112 citations

Book
01 Jan 1922

112 citations

Posted Content
TL;DR: In this article, a selective review of our knowledge about the scope for sterilized intervention in foreign exchange markets under alternative exchange-rate regimes is presented, and the potential importance of simultaneous-equations bias in single-equation econometric studies of the capital-account offset to monetary policy under fixed exchange rates is discussed.
Abstract: This paper is a highly selective review of our knowledge about the scope for sterilized intervention in foreign exchange markets under alternative exchange-rate regimes. Section I demonstrates the potential importance of simultaneous-equations bias in single-equation econometric studies of the capital-account offset to monetary policy under fixed exchange rates. The empirical record suggests that, in the case of West Germany, sterilization was a feasible short-run monetary strategy in the 1960s. Section II notes that there is considerable recent evidence of imperfect asset substitutability under the managed float. While limited substitution between bonds of different currency denomination is a precondition for the efficacy of sterilized foreign-exchange intervention, it is no guarantee of efficacy. Whether limited substitutability can in fact be exploited in a predictable manner by central banks is a distinct, and unanswered, question.

112 citations

Journal ArticleDOI
TL;DR: The authors found a contemporaneous relation between the foreign exchange rate and the market value of large exporters and found a weak lagged relationship which suggests that the stock market takes time to incorporate all of the implications of foreign currency movements into share prices.
Abstract: Contrary to prior research, this U.K.-based study finds a contemporaneous relation between the foreign exchange rate and the market value of large exporters. We also find a weak lagged relationship which suggests that the stock market takes time to incorporate all of the implications of foreign currency movements into share prices. Evidence that the nature of this relationship changed when sterling was in the ERM is also provided.

111 citations

Book
01 Oct 1992
TL;DR: This article reviewed recent theoretical and empirical developments in the analysis of informal currency markets in developing countries and highlighted the basic characteristics of these markets, and alternative analytical models to explain them are discussed.
Abstract: The paper reviews recent theoretical and empirical developments in the analysis of informal currency markets in developing countries. The basic characteristics of these markets are highlighted, and alternative analytical models to explain them are discussed. The implications for exchange rate policy --including imposition of foreign exchange restrictions, devaluation, and unification of exchange markets-- in countries with a sizable parallel market are also examined.

111 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
2023158
2022202
2021157
2020171
2019209
2018198