What is the Central Bank's Game?
In this paper we, first, by explicitly taking account of the private sector's influence and pressure on the monetary authorities, provide a more...
European Monetary Union: A Progress Report
The 1994/95 Hilldale Lecture in Social Studies delivered at the University of Wisconsin in Madison, Wisconsin, November 10th, 1994.
Strategy and Tactics of Monetary Policy: Examples from Europe and the Antipodes
While most Central Banks in Europe, and elsewhere, have been giving priority to the achievement of price stability for more than a decade, in recent...
A Comment on Financial Services Regulation – Making the Two-Tier System Work
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The Interaction between the Frequency of Market Quotations, Spread and Volatility in the Foreign Exchange Market
This paper investigates the empirical relationship between volatility, average spread, and number of quotations in the foreign exchange spot market...
When Support/Resistance Levels are Broken, Can Profits Be Made? Evidence From the Foreign Exchange Market
We investigate on three exchange rate series the profitability of signals generated by the breaking of levels of support and resistance identified and...
Central Bank Forex Intervention Assessed in Continuous Time
This paper looks at some of the principal characteristics of foreign exchange intervention by central banks. The approach is novel in that virtually...
News Effects in a High Frequency Model of the Sterling-Dollar Exchange Rate
This paper uses an extremely high frequency data set on the Dollar-Sterling exchange rate to investigate the impact of news events on the very short...
