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On the Inclusion of the Chinese Renminbi in the SDR Basket
Benassy-Quere, Agnes; Capelle, Damien - CESifo - 2012
This paper studies the impact of a broadening of the SDR basket to the Chinese currency on the composition and volatility of the basket. Although, in the past, RMB inclusion would have had negligible impact due to its limited weight, a much more significant impact can be expected in the next...
Persistent link: https://www.econbiz.de/10010877819
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Management of the External Value of the Renminbi
Oksanen, Heikki - CESifo - 2015
Pegging the renminbi (RMB) to the US dollar since 1994 has characterised China’s exchange rate policy, under either a … suitable intermediary exchange rate regime for China as the risks of jumping to free floating are still great. Diversifying …
Persistent link: https://www.econbiz.de/10011272624
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The Undisclosed Renminbi Basket: Are the Markets Telling us something about where the Renminbi – US Dollar Exchange Rate is Going?
Funke, Michael; Gronwald, Marc - CESifo - 2008
On 21 July 2005 China adopted an undisclosed basket exchange rate regime. We formally assess and envisage the gradual … evolution of the renminbi over time. We utilize nonlinear dependencies in the renminbi exchange rate and describe the smooth … transition of the renminbi/U.S. dollar (RMB/USD) exchange rate using the family of time-varying autoregressive (TV-AR) models …
Persistent link: https://www.econbiz.de/10005765921
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Pegging the Renminbi to a Basket - Facts, Prospects and Consequences
Oksanen, Heikki - CESifo - 2010
On 19 June 2010 the Chinese authorities announced that the renminbi (RMB) was henceforth to be pegged to a currency … Seoul Summit on 11-12 November 2010, China committed to further reform the RMB exchange rate regime. We discuss here what a … genuine basket peg could mean for China, with the view that the weight for the EUR should obviously be significantly increased …
Persistent link: https://www.econbiz.de/10008799734
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A Role Model for China? Exchange Rate Flexibility and Monetary Policy in Japan
Schnabl, Gunther; Danne, Christian - CESifo - 2007
provides an important role model for China, this paper studies the role of the yen/dollar exchange rate for Japanese monetary …
Persistent link: https://www.econbiz.de/10005405989
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Financial Markets and Economic Growth in Poland: Simulations with an Econometric Model
Wdowinski, Piotr - CESifo - 2005
In this paper we present simulations of economic performance of the Polish economy based on a quarterly econometric model. The model consists of 22 stochastic equations, which link the financial market with the real economy. The purpose of the research is to present effects of changes to...
Persistent link: https://www.econbiz.de/10005766248
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The Globalization Paradox Revisited
Schwerhoff, Gregor; Edenhofer, Ottmar - CESifo - 2014
According to the Globalization Paradox, globalization limits the freedom of choice for national governments. Capital …. Fixed factor taxes have the potential to improve welfare by defusing the globalization trilemma through a reduction in the …
Persistent link: https://www.econbiz.de/10010877683
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'Globesity'? The Effects of Globalization on Obesity and Caloric Intake
Costa-i-Font, Joan; Mas, Núria - CESifo - 2014
This study considers the effects of globalization, in its economic and social dimensions, on obesity and caloric intake … globalization and both obesity and caloric intake. A one standard deviation increase in globalization is associated with a 20 … social globalization, and specifically the effects of changes in information flows and social proximity. A one standard …
Persistent link: https://www.econbiz.de/10010948886
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International Trade, Factor Mobility and the Persistence of Cultural-Institutional Diversity
Belloc, Marianna; Bowles, Samuel - CESifo - 2009
Cultural and institutional differences among nations may result in differences in the ratios of marginal costs of goods in autarchy and thus be the basis of specialization and comparative advantage, as long as these differences are not eliminated by trade. We provide an evolutionary model of...
Persistent link: https://www.econbiz.de/10005013942
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Capital Importers Pay More for their Imports
Adam, Antonis; Moutos, Thomas - CESifo - 2012
We examine the effects that a country’s net capital flows have on the (border) prices that a country pays for its imports of goods. Using data from 2000 to 2009 for 11 euro area countries we utilize a pricing-to-market specification to study exporters’ pricing behavior to the rest of the...
Persistent link: https://www.econbiz.de/10009645628