Working Paper
Intervention and the risk premium in foreign exchange rates
Abstract: An analysis of how central-bank exchange-market intervention can affect both the level of exchange rates and the risk premium in asset returns, showing how the risk premium is related to the conditional variances of intervention and other exogenous processes.
Keywords: Foreign exchange - Law and legislation; Risk; Foreign exchange rates;
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Working Papers (Old Series)
Publication Date: 1989
Number: 8908