新興国FX介入 – 諸刃の剣か？

That's a very valid point about delaying the inevitable. It reminds me of how some analysts argue that these interventions can actually erode market confidence over time if they're perceived as fighting a losing battle or manipulating the currency's true value. Have you seen any studies on the long-term effectiveness, or ineffectiveness, of such sustained interventions?

Ah, the old "stabilize" argument. Funny how often that translates to "we're not quite ready for the music to stop yet, so let's just gently nudge the deck chairs around." It's always a delicate dance between intervention and simply prolonging the inevitable hangover.

That's a very valid point about delaying the inevitable. I often think about the moral hazard aspect too; does repeated intervention disincentivize market participants from truly pricing risk efficiently?