Real-time effects of central bank intervention in the euro market

2009 ◽  
Vol 78 (1) ◽  
pp. 11-20 ◽  
Author(s):  
Rasmus Fatum ◽  
Jesper Pedersen
Keyword(s):  
Central Bank ◽  
Real Time ◽  
Central Bank Intervention ◽  
Time Effects

scholarly journals Modeling Sources of Asymmetry in the Volatility of the Moroccan Dirham Exchange Rate

2021 ◽  
Vol 8 (4) ◽  
pp. 31
Author(s):  
KHATTAB Ahmed ◽  
SALMI Yahya
Keyword(s):  
Exchange Rate ◽  
Central Bank ◽  
Exchange Rates ◽  
Foreign Exchange ◽  
Selection Criterion ◽  
Econometric Models ◽  
Interbank Market ◽  
Foreign Exchange Reserves ◽  
Central Bank Intervention ◽  
The Exchange Rate

The main objective of this paper is to study the sources of asymmetry in the volatility of the bilateral exchange rates of the Moroccan dirham (MAD), against the EUR and the USD using the asymmetric econometric models of the ARCH-GARCH family. An empirical analysis was conducted on daily central bank data from March 2003 to March 2021, with a sample size of 4575 observations. Central bank intervention in the foreign exchange (interbank) market was found to affect the asymmetry in the volatility of the bilateral EUR/MAD and USD/MAD exchange rates. Specifically, sales of foreign exchange reserves by the monetary authority cause a fall in the exchange rate, which means that the market response to shocks is asymmetric. Finally, the selection criterion (AIC) allowed us to conclude that the asymmetric model AR(1)-TGARCH(1,1) is adequate for modeling the volatility of the exchange rate of the Moroccan dirham.

Model for Digital Economy in Indonesia

2013 ◽  
pp. 60-77
Author(s):  
Vincent Didiek Wiet Aryanto ◽  
Agnes Advensia Chrismastuti
Keyword(s):  
Central Bank ◽  
Real Time ◽  
Early Development ◽  
Value Creation ◽  
Response Rate ◽  
Distribution Channels ◽  
Digital Economy ◽  
Online Research ◽  
Business Activity ◽  
Early Stages

This study introduces the early development of digital economy in Indonesia. e-Business activity is growing at an unprecedented rate in Indonesia as indicated by the number of online real time transactions (Real Time Gross Settlement) recorded by Bank Indonesia (Indonesian Central Bank), the emergence of dotcom companies, and the use of ICT in conventional business (a combination of brick & mortar with click/online). Research was conducted by investigating the digital activities of businesses. Unfortunately out of the 109 businesses approached, response rate was very poor with only 30 responding (27%). This is not uncommon in Indonesia for a variety of reasons. Results from the four variables utilized in this study, e-Distribution Channels, Value Creation, Online Products & Services, and Online Infrastructures, indicate that the development of digital economy in Indonesia is still in its early stages due to a number of encountered obstacles.

Sign in / Sign up

Export Citation Format

Share Document