We construct a novel database of monthly foreign exchange interventions for 49 countries over up to 22 years. We build on a text classification approach that extracts information about interventions f
apanese monthly intervention data from August 1971 to March 2018 are available here. The data from August 1971 to March 1991 are estimated. See Ito and Yabu (2017, JCER) and Ito and Yabu (2020, NBER)
Foreign-exchange operations did not end after the United States stopped its activist approach to intervention. Japan persisted in such operations, but avoided overt conflict with its monetary policy.
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 pot
