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Assessment Of Weymark'S Measures Of Exchange Market Intervention: The Case Of Japan

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  • Shiu‐Sheng Chen
  • Kenshi Taketa

Abstract

. This paper assesses the validity of the index of foreign exchange market intervention proposed by Weymark. We construct the Weymark index for Japan and then compare it with Japanese public intervention data to evaluate its performance. The results suggest that research using the Weymark index should be interpreted with caution.

Suggested Citation

  • Shiu‐Sheng Chen & Kenshi Taketa, 2007. "Assessment Of Weymark'S Measures Of Exchange Market Intervention: The Case Of Japan," Pacific Economic Review, Wiley Blackwell, vol. 12(5), pages 545-558, December.
    • Handle: RePEc:bla:pacecr:v:12:y:2007:i:5:p:545-558
    DOI: 10.1111/j.1468-0106.2007.00370.x
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    Cited by:

    1. Suardi, Sandy & Chang, Yuanchen, 2012. "Are changes in foreign exchange reserves a good proxy for official intervention?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 22(4), pages 678-695.
    2. Yu-Ming Hsiao & Sheng-Chieh Pan & Po-Chin Wu, 2010. "Can intervention indices detect central bank's actual intervention behaviour?," Applied Economics Letters, Taylor & Francis Journals, vol. 17(15), pages 1525-1530.
    3. Chen, Shiu-Sheng, 2012. "Bernanke Was Right: Currency Manipulation Policy in Emerging Foreign Exchange Markets," MPRA Paper 36184, University Library of Munich, Germany.
    4. Jean-Yves Gnabo & Christelle Lecourt, 2008. "Foreign Exchange Intervention Policy: With or Without Transparency? The Case of Japan," Economie Internationale, CEPII research center, issue 113, pages 5-34.

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