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On the Inclusion of the Chinese Renminbi in the SDR Basket
Bénassy-Quéré, Agnès; Capelle, Damien - Centre d'études prospectives et d'informations … - 2011
We study 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 almost negligible impact due to its limited weight, a much more significant impact can be expected in the next...
Persistent link: https://www.econbiz.de/10009358502
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The Dollar in the Turmoil
Bénassy-Quéré, Agnès; Béreau, Sophie; Mignon, Valérie - Centre d'études prospectives et d'informations … - 2009
We study the impact of the global financial crisis on the equilibrium exchange rate of the US dollar. We first simulate the impact of the crisis on the US net foreign asset position. Then, we calculate the equilibrium value of the dollar according both to a BEER and to a FEER approach. We find...
Persistent link: https://www.econbiz.de/10005243457
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Equilibrium Exchange Rates: a Guidebook for the Euro-Dollar Rate
Bénassy-Quéré, Agnès; Béreau, Sophie; Mignon, Valérie - Centre d'études prospectives et d'informations … - 2008
In this paper, we investigate different views of equilibrium exchange rates within a single, stock-flow adjustment framework. We then compare FEER and BEER estimations of equilibrium exchange rates based on the same, econometric model of the net foreign asset position, with special focus on the...
Persistent link: https://www.econbiz.de/10005607345
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How Macroeconomic Imbalances Interact? Evidence from a Panel VAR Analysis
Gnimassoun, Blaise; Mignon, Valérie - Centre d'études prospectives et d'informations … - 2013
This paper aims at investigating the interactions between three key macroeconomic imbalances, namely Global imbalances,current-account discrepancies (external imbalances), output gaps (internal imbalances), and exchange-rate misalignments. To this end, we rely on the estimation of a panel VAR...
Persistent link: https://www.econbiz.de/10010827750
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Rebalancing Growth in China: An International Perspective
Bénassy-Quéré, Agnès; Carton, Benjamin; Gauvin, Ludovic - Centre d'études prospectives et d'informations … - 2011
various monetary regimes, the paper shows that the contribution of China in global rebalancing should primarily rely on … structural policies aiming at reducing aggregate savings in China. The role of the exchange-rate regime would be minor under … today. Finally, relying only on a change in China’s monetary regime (without structural reforms) could end up in delaying …
Persistent link: https://www.econbiz.de/10009002846
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Capital Inflows, Exchange Rate Regimes and Credit Dynamics in Emerging Market Economies
Boudias, Robin - Centre d'études prospectives et d'informations … - 2014
This paper investigates the impact of the exchange rate regime (ERR) on the cycle of capital fl ows, the private credit growth rate and the level of dollarization in emerging market economies. We consider two different panels including 12 and 22 countries over the periods 1980-2010 and...
Persistent link: https://www.econbiz.de/10010928909
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Sector Sensitivity to Exchange Rate Fluctuations
Fouquin, Michel; Mulder, Nanno; Nayman, Laurence; … - Centre d'études prospectives et d'informations … - 2001
Persistent link: https://www.econbiz.de/10005062837
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The Survival of Intermediate Exchange Rate Regimes
Bénassy-Quéré, Agnès; Coeuré, Benoit - Centre d'études prospectives et d'informations … - 2002
Persistent link: https://www.econbiz.de/10005406550
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Exchange Rate Regimes and Sustainable Parities for CEECs in the Run-up to EMU Membership
Coudert, Virginie; Couharde, Cécile - Centre d'études prospectives et d'informations … - 2002
Persistent link: https://www.econbiz.de/10005607314
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A holistic approach to ECB asset purchases, the Investment Plan and CMU
Valla, Natacha; Berg, Jesper; Clerc, Laurent; Garnier, … - Centre d'études prospectives et d'informations … - 2015
To stimulate and finance investment in Europe the three “policy stars” of Europe need to be aligned: the Capital Markets Union initiative, the €315bn Investment Plan, and the ECB’s €1,100bn asset purchase scheme. They jointly face a unique set of issues. First, the resilience and the...
Persistent link: https://www.econbiz.de/10011265479