土居丈朗「介入資金、吸収しても効果」
（日本経済新聞2010年１２月６日朝刊経済教室欄掲載）
の補足解説
このページでは、土居丈朗「介入資金、吸収しても効果」（日本経済新聞2010年１２月６日朝刊経済教室欄掲載）の補足解説を致します。
・Fatum, R. and M.M. Hutchison, 2003, "Is Sterilised Foreign Exchange Intervention Effective After All? An Event Study Approach", Economic Journal vol.113, pp.390-411.
・Gnabo, J.-Y. and J. Teiletche, 2009, "Foreign-Exchange Intervention Strategies and Market Expectations: Insights from Japan", Journal of International Financial Markets, Institutions and Money vol.19, pp.432-446.
・Hoshikawa, T., 2008, "The Effect of Intervention Frequency on the Foreign Exchange Market: The Japanese Experience", Journal of International Money and Finance vol.27, pp.547-559.
・Ito, T., 2003, "Is Foreign Exchange Intervention Effective?: The Japanese Experiences in the 1990s", in P. Mizen ed. Monetary History, Exchange Rates and Financial Markets vol.2 Edward Elgar.
・Sarno, L. and M.P. Taylor, 2001, "Official intervention in the Foreign Exchange Market: Is It Effective and, If So, How Does It Work? ", Journal of Economic Literature vol.39, pp.839-868.
・Sarno L. and M.P. Taylor, 2004, The Economics of Exchange Rates, Cambridge University Press.
・Taylor, M.P., 2004, "Is Official Exchange Rate Intervention Effective?", Economica vol.71, pp.1-11.
・Wan, J.-Y. and C.-W. Kao, 2010, "Effects of Japanese Intervention on Yen/Dollar Exchange Rate Volatility", Applied Economics Letters vol.17, pp.367-373.
・Watanabe, T. and K. Harada, 2006, "Effects of the Bank of Japan's Intervention on Yen/Dollar Exchange Rate Volatility", Journal of the Japanese and International Economies vol.20, pp.99-111.
・渡辺努・藪友良, 2010, 「量的緩和期の外為介入」, 『フィナンシャル・レビュー』第99号.
他にも、円ドル為替相場の公的介入については、下記のような論文で同様の研究がなされています。
・Fatum, R. and M. Hutchinson, 2006, "Effectiveness of official daily foreign exchangemarket intervention operations in Japan", Journal of International Money and Finance vol.25, pp.199-219.
・Ito, T., 2007, "Myths and Reality of Foreign Exchange Interventions: An Application to Japan", International Journal of Finance and Economics vol.12, pp.133-154.
・Ito, T. and T. Yabu, 2007, "What Prompts Japan to Intervene in the Forex Market: A New Approach to a Reaction Function", Journal of International Money and Finance vol.26, pp.193-212.
・Nagayasu, J., 2004, "The Effectiveness of Japanese Foreign Exchange Interventions during 1991-2001", Economics Letters vol.84, pp.377-381
・Park, H. and C.-Y. Song, 2008, "Japanese Vocal Intervention and the Yen/Dollar Exchange Rate", Japan and the World Economy vol.20, pp.61-81.
・Taylor, M.P., 2005, "Official Foreign Exchange Intervention as a Coordinating Signal in the Dollar-Yen Market", Pacific Economic Review vol.10, pp.73-82.
以上です。
今後、必要に応じて、このページで為替介入に関する追加の説明をしたいと考えております。
