Price Impacts of Deals and Predictability of the Exchange Rate Movements

Takatoshi Ito, Yuko Hashimoto

NBER Working Paper No. 12682
Issued in November 2006

---- Acknowledgments ----

The authors are grateful to EBS for providing a proprietary data set for academic purpose. The earlier version of the paper was presented at the NBER 17th Annual East Asian Seminar on Economics in Hawaii June 22-24, 2006. We are grateful to Peter Garber, Eli Remolona and Andy Rose for their comments. Ito gratefully acknowledges financial support from the Japan Society for the Promotion of Science, Grants-in-aid, Basic Research (A-2-15203008). Hashimoto gratefully acknowledges financial supports from the Japan Society for the Promotion of Science, Grants-in-aid for Young Scientists (B17730211). The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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