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Will History Repeat Itself? Lessons for the Yuan
Cohen, Benjamin J. - East Asian Bureau of Economic Research (EABER) - 2014
remarkable economic success of the People’s Republic of China (PRC). But is such confidence warranted? Recent history has seen …
Persistent link: https://www.econbiz.de/10011134342
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Issues for Renminbi Internationalization : An Overview
Eichengreen, Barry; Kawai, Masahiro - East Asian Bureau of Economic Research (EABER) - 2014
The growing weight of the People’s Republic of China (PRC) in the world economy, measured by gross domestic product … (GDP) and trade volume, has intensified debate on the potential international role of its currency—the renminbi (RMB …-denominated bond issuance in Hong Kong, China, but that RMB internationalization is still limited due to capital account controls. The …
Persistent link: https://www.econbiz.de/10011134343
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The Renminbi and Exchange Rate Regimes in East Asia
Kawai, Masahiro; Pontines, Victor - East Asian Bureau of Economic Research (EABER) - 2014
With the rise of the People’s Republic of China (PRC) as the world’s largest trading nation (measured by trade … global financial crisis has been pursuing a policy to internationalize its currency, the renminbi (RMB). Clearly the exchange …
Persistent link: https://www.econbiz.de/10011134348
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Will History Repeat Itself? Lessons for the Yuan
Cohen, Benjamin J. - East Asian Bureau of Economic Research (EABER) - 2014
remarkable economic success of the People’s Republic of China (PRC). But is such confidence warranted? Recent history has seen …
Persistent link: https://www.econbiz.de/10011134375
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Issues for Renminbi Internationalization : An Overview
Eichengreen, Barry; Kawai, Masahiro - East Asian Bureau of Economic Research (EABER) - 2014
The growing weight of the People’s Republic of China (PRC) in the world economy, measured by gross domestic product … (GDP) and trade volume, has intensified debate on the potential international role of its currency—the renminbi (RMB …-denominated bond issuance in Hong Kong, China, but that RMB internationalization is still limited due to capital account controls. The …
Persistent link: https://www.econbiz.de/10011134377
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The Renminbi and Exchange Rate Regimes in East Asia
Kawai, Masahiro; Pontines, Victor - East Asian Bureau of Economic Research (EABER) - 2014
With the rise of the People’s Republic of China (PRC) as the world’s largest trading nation (measured by trade … global financial crisis has been pursuing a policy to internationalize its currency, the renminbi (RMB). Clearly the exchange …
Persistent link: https://www.econbiz.de/10011134381
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Determinants of the Trilemma Policy Combination
Ito, Hiro; Kawai, Masahiro - East Asian Bureau of Economic Research (EABER) - 2014
We present a theoretical framework for policy making based on the “impossible trinity†or the “trilemma†hypothesis. A simple optimization model shows that placing more weight in terms of preference for each of the three open macroeconomic policies—exchange rate...
Persistent link: https://www.econbiz.de/10010857585
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How Useful Is an Asian Currency Unit (ACU) Index for Surveillance in East Asia?
Pontines, Victor - East Asian Bureau of Economic Research (EABER) - 2013
An Asian Currency Unit (ACU) index is constructed using an alternative procedure which minimizes a basket or portfolio of assets expressed in terms of national currencies. Using this estimated ACU index and an ACU Deviation Indicator, the main finding of this study based on the current...
Persistent link: https://www.econbiz.de/10011278049
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A De Facto Asian-Currency Unit Bloc in East Asia : It Has Been There but We Did Not Look for It
Girardin, Eric - East Asian Bureau of Economic Research (EABER) - 2011
Pegging in a coordinated way to a regional basket currency is considered by many as optimal for east-Asian countries. By contrast, according to existing empirical studies, these countries have most often relied on noncooperative United States dollar or G3 pegs. We show for the first time...
Persistent link: https://www.econbiz.de/10011278050
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New Measures of the Trilemma Hypothesis : Implications for Asia
Ito, Hiro; Kawai, Masahiro - East Asian Bureau of Economic Research (EABER) - 2012
We develop a new set of indexes of exchange rate stability, monetary policy independence, and financial market openness as the metrics for the trilemma hypothesis. In our exploration, we take a different and more nuanced approach than the previous indexes developed by Aizenman, Chinn, and Ito...
Persistent link: https://www.econbiz.de/10011278057