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Working Paper

Intervention, Exchange-Rate Volatility, and the Stable Paretian Distribution

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A look at whether the United States’ decision to cease intervention after March 1981 had a perceptible influence on the day-to-day behavior of exchange rates, using the stable paretian distribution.
07.01.1986ISSN 2573-7953 WP 86-08

Working Papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views expressed in this paper are those of the authors and do not represent the views of the Federal Reserve Bank of Cleveland or the Federal Reserve System.

Suggested Citation

Bagshaw, Michael L., and Owen F. Humpage. 1986. “Intervention, Exchange-Rate Volatility, and the Stable Paretian Distribution.” Federal Reserve Bank of Cleveland, Working Paper No. 86-08.