Advanced Search
MyIDEAS: Login

Intervention and the bid-ask spread in G-3 foreign exchange rates

Contents:

Author Info

  • William P. Osterberg
Registered author(s):

    Abstract

    A test of whether the anticipation of G-3 (Germany, Japan and the U.S.) central-bank intervention explains wider bid-ask spreads in the spot and forward rates of marks/dollars and yen/dollars, finding little evidence to support the view that spreads widen in anticipation of intervention.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.clevelandfed.org/Research/Review/1992/92-q2-osterberg.pdf
    Download Restriction: no

    Bibliographic Info

    Article provided by Federal Reserve Bank of Cleveland in its journal Economic Review.

    Volume (Year): (1992)
    Issue (Month): Q II ()
    Pages: 2-13

    as in new window
    Handle: RePEc:fip:fedcer:y:1992:i:qii:p:2-13:n:v.28no.2

    Contact details of provider:
    Postal: 1455 East 6th St., Cleveland OH 44114
    Phone: 216.579.2000
    Web page: http://www.clevelandfed.org/
    More information through EDIRC

    Order Information:
    Email:

    Related research

    Keywords: Foreign exchange - Law and legislation ; Germany ; Japan;

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Merton, Robert C., 1977. "On the microeconomic theory of investment under uncertainty," Working papers 958-77., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    2. Robinson, Joan, 1972. "The Second Crisis of Economic Theory," American Economic Review, American Economic Association, vol. 62(2), pages 1-10, May.
    3. Gorton, Gary B. & Haubrich, Joseph G., 1987. "Bank deregulation, credit markets, and the control of capital," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 26(1), pages 289-333, January.
    4. Danziger, Sheldon & Gottschalk, Peter, 1986. "Do Rising Tides Lift All Boats? The Impact of Secular and Cyclical Changes on Poverty," American Economic Review, American Economic Association, vol. 76(2), pages 405-10, May.
    5. Smith, Bruce D., 1984. "Private information, deposit interest rates, and the `stability' of the banking system," Journal of Monetary Economics, Elsevier, vol. 14(3), pages 293-317, November.
    6. Judd, Kenneth L., 1985. "The law of large numbers with a continuum of IID random variables," Journal of Economic Theory, Elsevier, vol. 35(1), pages 19-25, February.
    7. Mirrlees, James A, 1971. "An Exploration in the Theory of Optimum Income Taxation," Review of Economic Studies, Wiley Blackwell, vol. 38(114), pages 175-208, April.
    8. Flannery, Mark J, 1982. "Retail Bank Deposits as Quasi-Fixed Factors of Production," American Economic Review, American Economic Association, vol. 72(3), pages 527-36, June.
    9. Klein, Michael A, 1972. "On the Causes and Consequences of Savings and Loan Deposit Rate Inflexibility," Journal of Finance, American Finance Association, vol. 27(1), pages 79-87, March.
    10. Sheffrin, Steven M, 1984. "The Dispersion Hypothesis in Macroeconomics," The Review of Economics and Statistics, MIT Press, vol. 66(3), pages 482-85, August.
    11. Gerald I. Weber, 1966. "Interest Rates On Mortgages And Dividend Rates On Savings And Loan Shares," Journal of Finance, American Finance Association, vol. 21(3), pages 515-521, 09.
    12. Neumark, David & Sharpe, Steven A, 1992. "Market Structure and the Nature of Price Rigidity: Evidence from the Market for Consumer Deposits," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 657-80, May.
    13. Joseph Haubrich, . "Optimal Financial Structure in Exchange Economies," Rodney L. White Center for Financial Research Working Papers 18-84, Wharton School Rodney L. White Center for Financial Research.
    14. Grossman, Sanford J. & Hart, Oliver D. & Maskin, Eric S., 1983. "Unemployment with Observable Aggregate Shocks," Scholarly Articles 3448840, Harvard University Department of Economics.
    15. Dooley, Martin D & Gottschalk, Peter, 1984. "Earnings Inequality among Males in the United States: Trends and the Effect of Labor Force Growth," Journal of Political Economy, University of Chicago Press, vol. 92(1), pages 59-89, February.
    16. Diamond, Douglas W & Dybvig, Philip H, 1983. "Bank Runs, Deposit Insurance, and Liquidity," Journal of Political Economy, University of Chicago Press, vol. 91(3), pages 401-19, June.
    17. Hannan, Timothy H & Berger, Allen N, 1991. "The Rigidity of Prices: Evidence from the Banking Industry," American Economic Review, American Economic Association, vol. 81(4), pages 938-45, September.
    18. Jacklin, Charles J & Bhattacharya, Sudipto, 1988. "Distinguishing Panics and Information-Based Bank Runs: Welfare and Policy Implications," Journal of Political Economy, University of Chicago Press, vol. 96(3), pages 568-92, June.
    19. Sanford J. Grossman & Oliver D. Hart & Eric Maskin, 1982. "Unemployment with Observable Aggregate Shocks," NBER Working Papers 0975, National Bureau of Economic Research, Inc.
    20. Rothschild, Michael & Stiglitz, Joseph E., 1970. "Increasing risk: I. A definition," Journal of Economic Theory, Elsevier, vol. 2(3), pages 225-243, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Koutmos, Gregory & Martin, Anna D., 2011. "Currency bid-ask spread dynamics and the Asian crisis: Evidence across currency regimes," Journal of International Money and Finance, Elsevier, vol. 30(1), pages 62-73, February.

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:fip:fedcer:y:1992:i:qii:p:2-13:n:v.28no.2

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Diane Rosenberger).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.