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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/87379

    Title: 土耳其央行干預有效性之分析
    Other Titles: The effectiveness of Turkish intervention in the lira/dollar exchange market
    Authors: 林佳穎;Lin, Chia-Ying
    Contributors: 淡江大學經濟學系碩士班
    萬哲鈺;Wan, Jer-Yuh
    Keywords: 異質行為交易者;央行干預;外匯市場;噪音交易管道;整合管道;Heterogeneous agents;Central bank intervention;foreign exchange market;Noise trading channel;Coordination channel
    Date: 2012
    Issue Date: 2013-04-13 11:01:13 (UTC+8)
    Abstract: 本文利用非線性異質交易者模型,分析異質交易行為是否存在於美元兌里拉外匯市場,以及土耳其中央銀行是否可以經由影響市場參與者行為,並透過Hung (1997) 噪音交易管道以及 Reitz and Taylor (2008) 整合管道,達到其干預外匯市場的目標。
    A nonlinear heterogeneous agent model is applied to the lira/dollar exchange rate market to discuss the channels of an effective central bank intervention. The existence of two hypothetical channels proposed by Hung (1997) and Reitz and Taylor (2008) are tested and confirmed.
    Evidence shows heterogeneous agents are active in the lira/dollar market where the stabilizing force from the fundamentalists declines in large misalignments. Central bank can achieve the aim of the intervention through the noise trading channel and coordination channel. Central bank intervention is effective in arousing the trend-reversing sentiment among chartists to prevent market from explosion. The intervention is also effective in strengthening fundamentalists’ confidence that the market will move toward its theoretical equilibrium.
    Appears in Collections:[經濟學系暨研究所] 學位論文

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