Econometrica: Sep 1973, Volume 41, Issue 5

Stabilization of the Canadian Dollar: 1952-1960

https://doi.org/0012-9682(197309)41:5<797:SOTCD1>2.0.CO;2-M
p. 797-815

John E. Pippinger, Llad Phillips

In this paper we construct a model that describes the behavior of the foreign exchange market and Exchange Fund. Cross-spectral and regression analysis of daily data are used to show that official intervention contributed significantly to the short-run stability of Canadian exchange rates.

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