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Does Central Bank Intervention Increase the Volatility of Foreign Exchange Rates?

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NBER1993-11-01 更新2025-01-04 收录
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Since the abandonment of the Bretton Woods system of fixed exchange rates in the early 1970s, exchange rates have displayed a surprisingly high degree of time-conditional volatility. This volatility can be explained statistically using autoregressive conditional heteroscedasticity models, but there

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1993-11-01
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