Japanese Foreign Exchange Interventions, 1971-2018: Estimating a Reaction Function Using the Best Proxy
---- Acknowledgments ----
The first author gratefully acknowledges financial support from the JSPS through Grants-in-Aid for Scientific Research (17H00995). Yabu gratefully acknowledges financial support from the JSPS through Grants-in-Aid for Scientific Research (No. 17K03663). The authors are solely responsible for any remaining errors. The views and opinions expressed in this paper are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
---- Disclosure of Financial Relationships for Takatoshi Ito ----
"I serve as a non-resident Board of Director in a company that owns and operate an proprietary trading system; and a financial holding company owning a bank, a life and non-life insurance companies in Japan; also as an advisory board member of an alternative asset manager company and serve as a Editorial Board member of newsletter on Japanese Economy."