Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica: Sep, 1973, Volume 41, Issue 5

Stabilization of the Canadian Dollar: 1952-1960<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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