Dutch Paper on ECB support for the euro

The De Nederlandsche Bank Working Paper "Were verbal efforts to support the euro effective? A high-frequency analysis of ECB statements" published in April 2005 studies the effects of verbal interventions by European central bankers on high-frequency euro-dollar exchange rates.

The authors find that ECB verbal interventions have had only small and short-lived effects. Verbal interventions which are reported in news report headlines are more likely to be successful, whereas verbal interventions on

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