Intervention in the foreign exchange markets

[ “Nations Act to Put Brakes on Yen's Rise ” Wall Street Journal, 3/18/11.  “How To Help Japan: Sell Your Yen,”  NPR 3/18/11.  "Japan's Effect on Recovery A Worry," Boston Globe 3/16/11.]

 "Clinton's Dollar Policy and The Effectiveness of Foreign Exchange Intervention," Revue d'Economie Financiere, Dec.1994, 125-137. Excerpted as "What Dollar Bashing?" The International Economy, May/June 1995, 14-15.

With Kathryn Dominguez:

Does Foreign Exchange Intervention Work?, (Institute for International Economics, Washington, D.C.), 1993.

"Does Foreign Exchange Intervention Matter? The Portfolio Effect"  American Economic Review, 83, no. 5, Dec. 1993, 1356-69.  Abridged version of CIDER WP No. C92-001, U.C. Berkeley.  Reprinted in Foreign Exchange Intervention: Objectives and Effectiveness, Sylvester Eijffinger, ed., Edward Elgar Publ., 1999.

Does Foreign Exchange Intervention Matter? Disentangling the Portfolio and Expectation Effects for the Mark," NBER WP No. 3299.  Appears in condensed form as "Foreign Exchange Intervention: An Empirical Assessment," chapter 16 in Frankel, On Exchange Rates (MIT Press, Cambridge MA), 1993.

"Concerted Interventions and the Dollar: An Analysis of Daily Data," in The International Monetary System in Crisis and Reform: Essays in Memory of Rinaldo Ossola, edited by P.Kenen, F.Papadia and F.Saccomani (Cambridge University Press, Cambridge UK), 1994, 242-247; and (in Italian), in Il Sistema Monetario Internationazionale tra Crisi e Riforme: Saggi in Memoria di Rinaldo Ossola ( Bologna: Societa Editrice il Mulino), 434-443.

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