Intervention and the Bid-Ask Spread in G-3 Foreign Exchange Rates
检验G-3国家（德国、日本和美国）央行干预预期是否导致马克/美元和日元/美元即期与远期汇率买卖价差扩大，发现几乎没有证据支持干预预期会扩大价差。
A test of whether the anticipation of G-3 (Germany, Japan and the U.S.) central-bank intervention explains wider bid-ask spreads in the spot and forward rates of marks/dollars and yen/dollars, finding little evidence to support the view that spreads widen in anticipation of intervention.