المستودع الأكاديمي جامعة المدينة

The effectiveness of the interventions of the Swiss National Bank : an event-study analysis

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dc.creator Pierdzioch, Christian
dc.creator Stadtmann, Georg
dc.date 2003
dc.date.accessioned 2013-10-16T06:57:21Z
dc.date.available 2013-10-16T06:57:21Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/17902
dc.identifier ppn:362674108
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/17902
dc.description We use the event-study methodology to analyze the effectiveness of the foreign exchange market interventions conducted by the Swiss National Bank (SNB) during the period from 1986 through 1995. We find some evidence that the interventions of the SNB had an impact on exchange rate dynamics. The significance of this effect, however, depends on the direction of intervention. In general, the evidence suggests that the interventions of the SNB to strengthen the Swiss franc were more effective than its interventions to weaken the Swiss franc. We also find that the results of the tests for the effectiveness of the interventions of the SNB depend upon the length of the pre- and post-event window analyzed.
dc.language eng
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.relation Kieler Arbeitspapiere 1160
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject F31
dc.subject F33
dc.subject G14
dc.subject ddc:330
dc.subject Foreign exchange market
dc.subject Central bank intervention
dc.subject Swiss National Bank
dc.subject Wechselkurspolitik
dc.subject Wirtschaftspolitische Wirkungsanalyse
dc.subject Schätzung
dc.subject Schweiz
dc.subject Event study
dc.title The effectiveness of the interventions of the Swiss National Bank : an event-study analysis
dc.type doc-type:workingPaper


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