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exploitation by the People’s Bank of China (PBOC) to help internationalizing the renminbi. This trend was further confirmed in the …
Persistent link: https://www.econbiz.de/10010938573
Persistent link: https://www.econbiz.de/10005243466
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
In a fixed exchange-rate regime, monetary policy is not devoted to internal equilibrium, such that the Taylor principle is no more the condition to insure the determinacy of the dynamic. Monetary policy is in charge of stabilizing the fixed-exchange rate regime in the long run, i.e. to avoid an...
Persistent link: https://www.econbiz.de/10009391586
euro-dollar rate, whatever the exchange-rate regime of China. Moving to a dynamic, stock-flow framework, we show that the …
Persistent link: https://www.econbiz.de/10010827775
Persistent link: https://www.econbiz.de/10005243453
suggest that, accounting for relative price variations, China could account for 33% of the world economy in 2050, which would … China would overtake the United States around 2020 (2040 at constant relative prices). However, in terms of standards of … living, measured through GDP per capita in purchasing power parity, China would still lag 10 percent behind the United States …
Persistent link: https://www.econbiz.de/10009493810
The third version of the MAcMap-HS6 database, built as a result of a joint effort of CEPII (Centre d'Études Prospectives et d’Informations Internationales, Paris) and ITC (International Trade Centre, Geneva), based on ITC’s MAcMap raw data, proposes an exhaustive and consistent measure of...
Persistent link: https://www.econbiz.de/10010604044
We review the competing explanations of the 2007-2008 global crisis, recall how governments around the world had to depart from established policy stances, and reflect on the legacy of the crisis both in terms of future challenges and changes in policy doctrine. The G-20 has addressed important...
Persistent link: https://www.econbiz.de/10008493428
Persistent link: https://www.econbiz.de/10005062832