Nonlinear Relationship based on Range Quadratic Loss Function

[1]Dornbush R A. Expectations and Exchange Rate Dynamics, Journal of Political Economy, 1976, 84: 960–971.DornbushR AExpectations and Exchange Rate DynamicsJournal of Political Economy19768496097110.1086/260506Search in Google Scholar

[2]Krugman P R. Target Zones and Exchange Rate Dynamics, Quarterly Journal of Economies, 1991, 106: 669–682.KrugmanP RTarget Zones and Exchange Rate DynamicsQuarterly Journal of Economies199110666968210.3386/w2481Search in Google Scholar

[3]Delgado F & Dumas B. Target zones, broad and narrow in Krugman P. and Miller M. (eds), Exchange Rate Targets and Currency Bands, Cambridge University Press, 1991, 35–56.DelgadoFDumasBTarget zones, broad and narrowinKrugmanP.MillerM.(eds),Exchange Rate Targets and Currency BandsCambridge University Press19913556Search in Google Scholar

[4]Bertola G & Caballero R J. Target zones and realignments, American Economic Review, 1992, 82: 520–536.BertolaGCaballeroR JTarget zones and realignmentsAmerican Economic Review199282520536Search in Google Scholar

[5]Stigler M, Patnaik I, Shah A. Asymmetries in central bank intervention, Working paper, http://macrofinance.nipfp.org, 2009.StiglerMPatnaikIShahAAsymmetries in central bank intervention, Working paperhttp://macrofinance.nipfp.org,2009Search in Google Scholar

[6]Calvo G A & Reinhart C M. Fear of floating, The Quarterly Journal of Economics, 2002, 2: 379–408.CalvoG AReinhartC MFear of floatingThe Quarterly Journal of Economics2002237940810.3386/w7993Search in Google Scholar

[7]Levy-Yeyati E & Sturzenegger F. Fear of appreciation, KSG Working Paper, Harvard University, 2007.Levy-YeyatiESturzeneggerFFear of appreciation, KSG Working PaperHarvard University200710.1596/1813-9450-4387Search in Google Scholar

[8]Ramachandran M & Srinivasan N. Asymmetric exchange rate intervention and international reserve accumulation in India, Economics Letters, 2007, 94: 259–265.RamachandranMSrinivasanNAsymmetric exchange rate intervention and international reserve accumulation in IndiaEconomics Letters20079425926510.1016/j.econlet.2006.06.040Search in Google Scholar

[9]Pontines V & Rajan RS. Rajan. Foreign exchange market intervention and reserve accumulation in emerging Asia: Is there evidence of fear of appreciation, Economics Letters, 2011, 111: 252–255.PontinesVRajanRSRajan.Foreign exchange market intervention and reserve accumulation in emerging Asia: Is there evidence of fear of appreciationEconomics Letters201111125225510.1016/j.econlet.2011.01.022Search in Google Scholar

[10]Pontines V & Siregar RY. Siregar. Fear of appreciation in East and Southeast Asia: The role of the Chinese renminbi, Journal of Asian Economics, 2012, 23: 324–334.PontinesVSiregarRYSiregar. Fear of appreciation in East and Southeast Asia: The role of the Chinese renminbiJournal of Asian Economics20122332433410.1016/j.asieco.2012.03.005Search in Google Scholar

[11]Zhang CW, Huang J, He BF. On the Alterable Intervening Verge in the Managed Floating Exchange Rate Regime, Studies of International Finance, 2006, 11: 56–62.ZhangCWHuangJHeBFOn the Alterable Intervening Verge in the Managed Floating Exchange Rate RegimeStudies of International Finance2006115662Search in Google Scholar

[12]HHuang Z G & Chen X J. Evaluation on Elastic Space of RMB Exchange Rate Volatility, Economic Research Journal, 2010, 5: 41–54.HHuangZ GChenX JEvaluation on Elastic Space of RMB Exchange Rate VolatilityEconomic Research Journal201054154Search in Google Scholar

[13]Gan X D, Yang J M, Zhang J. The Efficiency Of Central Banks Intervention in Foreign Exchange Market in China, Journal of Financial Research, 2007, 9: 82–89.GanX DYangJ MZhangJThe Efficiency Of Central Banks Intervention in Foreign Exchange Market in ChinaJournal of Financial Research200798289Search in Google Scholar

[14]Xu J W, Xu Q Y, Huang W. The Central Bank's Official Intervention Can Affect the Real Exchange Rate, Management World, 2011, 3: 5–15.XuJ WXuQ YHuangWThe Central Bank's Official Intervention Can Affect the Real Exchange RateManagement World20113515Search in Google Scholar

[15]Han F, Xie C, Sun B. The Effectiveness of Foreign Exchange Intervention: New Evidence from IV-GARCH Estimations. Journal of Financial Research, 2011, 6: 71–85.HanFXieCSunBThe Effectiveness of Foreign Exchange Intervention: New Evidence from IV-GARCH EstimationsJournal of Financial Research201167185Search in Google Scholar

[16]Huang SF & Chen LN. Investigations on the correlationships among RMB exchange rate, RMB appreciation expectations and foreign exchange reserves, Journal of Management Sciences in China, 2011, 3: 60–72.HuangSFChenLNInvestigations on the correlationships among RMB exchange rate, RMB appreciation expectations and foreign exchange reservesJournal of Management Sciences in China201136072Search in Google Scholar

[17]Chen L N & Huang S F. The effects of RMB exchange rate volatility on foreign exchange reserves, Systems Engineering-Theory & Practice, 2012, 7: 1452–1463.ChenL NHuangS FThe effects of RMB exchange rate volatility on foreign exchange reservesSystems Engineering-Theory & Practice2012714521463Search in Google Scholar

[18]Cadenillas A & Zapatero F. Optimal Central Bank Intervention in the Foreign Exchange Market, Journal of Economic Theory, 1999, 87: 218–242.CadenillasAZapateroFOptimal Central Bank Intervention in the Foreign Exchange MarketJournal of Economic Theory19998721824210.1006/jeth.1999.2523Search in Google Scholar

[19]Ghosh A R. Central bank secrecy in the foreign exchange market, European Economic Review, 2002, 46: 253–272.GhoshA RCentral bank secrecy in the foreign exchange marketEuropean Economic Review20024625327210.1016/S0014-2921(01)00102-7Search in Google Scholar

[20]Ito T & Yabu T. What prompts Japan to intervene in the forex market? A new approach to a reaction function, Journal of International Money and Finance, 2007, 26: 193–212.ItoTYabuTWhat prompts Japan to intervene in the forex market? A new approach to a reaction functionJournal of International Money and Finance20072619321210.3386/w10456Search in Google Scholar

[21]Tachibana M. Did the Bank of Japan have a target zone for the inflation rate, Economics Letters, 2006, 92: 131–136TachibanaMDid the Bank of Japan have a target zone for the inflation rateEconomics Letters20069213113610.1016/j.econlet.2006.01.017Search in Google Scholar

[22]Tachibana M. Inflation zone targeting and the Federal Reserve, Japanese Int. Economies, 2008, 22: 68–84.TachibanaMInflation zone targeting and the Federal ReserveJapanese Int. Economies200822688410.1016/j.jjie.2007.02.002Search in Google Scholar

[23]Surico P. Measuring the time inconsistency of US monetary policy, Economics, 2008, 75: 22–38.SuricoPMeasuring the time inconsistency of US monetary policyEconomics2008752238Search in Google Scholar

[24]Naraidoo R & Raputsoane L. Optimal monetary policy reaction function in a model with target zones and asymmetric preferences for South Africa, Economic Modelling, 2011, 28: 251–258.NaraidooRRaputsoaneLOptimal monetary policy reaction function in a model with target zones and asymmetric preferences for South AfricaEconomic Modelling20112825125810.1016/j.econmod.2010.09.005Search in Google Scholar

[25]Lee H Y. Nonlinear exchange rate dynamics under stochastic official intervention, Economic Modelling, 2011, 28: 1510–1518LeeH YNonlinear exchange rate dynamics under stochastic official interventionEconomic Modelling2011281510151810.1016/j.econmod.2011.02.024Search in Google Scholar

[26]Lee H Y & Lai H P. A structural threshold model of the exchange rate under optimal intervention, Journal of International Money and Finance, 2011, 30: 931–946.LeeH YLaiH PA structural threshold model of the exchange rate under optimal interventionJournal of International Money and Finance20113093194610.1016/j.jimonfin.2011.06.016Search in Google Scholar

[27]Boinet V & Martiny C. Targets, zones, and asymmetries: a flexible nonlinear model of recent UK monetary policy, Oxford Economic Papers, 2008, 60: 423–439.BoinetVMartinyCTargets, zones, and asymmetries: a flexible nonlinear model of recent UK monetary policyOxford Economic Papers20086042343910.1093/oep/gpn008Search in Google Scholar

[28]Guo TY & Chen J. A Study of Effectiveness of PBOC s Intervention with Foreign Exchange Market, Studies of International Finance, 2006, 7: 757–61.GuoTYChenJA Study of Effectiveness of PBOC s Intervention with Foreign Exchange MarketStudies of International Finance2006775761Search in Google Scholar

[29]Srinivasan N, Mahambare V, Ramachandran M. Preference asymmetry and international reserve accretion in India, Applied Economics Letters, 2009, 16: 1543–1546.SrinivasanNMahambareVRamachandranMPreference asymmetry and international reserve accretion in IndiaApplied Economics Letters2009161543154610.1080/13504850701578942Search in Google Scholar

[30]Sheng B & Wu J T. Randomness, Foreign Exchange Market Intervention and Market Effectiveness: A Dynamic Analysis on the RMB Exchange Rate, World Economy Study, 2010, 3: 32–37.ShengBWuJ TRandomness, Foreign Exchange Market Intervention and Market Effectiveness: A Dynamic Analysis on the RMB Exchange RateWorld Economy Study201033237Search in Google Scholar

[31]Lin B. Central Bank of the Decision Of the RMB Exchange Rate Under the Optimal Intervention: Based on the signal effect, the effect of asset liquidity effect and asset inventory dynamic analysis, The Journal of World Economy, 2010, 8: 123–137.LinBCentral Bank of the Decision Of the RMB Exchange Rate Under the Optimal Intervention: Based on the signal effect, the effect of asset liquidity effect and asset inventory dynamic analysisThe Journal of World Economy20108123137Search in Google Scholar