The Influence of Actual and Unrequited Interventions
---- Acknowledgments ----
We are grateful to two anonymous referees, Francis Breedon, Takatoshi Ito, Christopher Neely, Andrew Patton, Mark Taylor, Ian Tonks, Paolo Vitale, as well as seminar participants at Oxford University and the "Exchange Rate Intervention: Theory and Experience" conference in Cambridge, England, for useful comments and suggestions. We thank FMG at LSE for providing the Reuters D2000-2 data, and Ryan Love and Jinhui Luo for sharing their mastery of the data with us. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.