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Imf Drawing Programs; Participation Determinants and Forecasting

Cerutti, Eugenio - International Monetary Fund (IMF) - 2007

This paper studies the factors that have influenced countries' participation in IMF drawing programs. IMF drawing …-track, it provides a closer link to the factors that have influenced the evolution of IMF credit outstanding. The analysis uses … determinants of countries' participation in IMF drawing programs. The importance of the global factor is not uniform during the …

Persistent link: https://www.econbiz.de/10005248203

Hoarding of International Reserves: A Comparison of the Asian and Latin American Experiences

Cheung, Yin-wong; Ito, Hiro - Hong Kong Institute for Monetary Research (HKIMR), … - 2008

We examine the empirical determinants of the demand for international reserves and compare the experiences of some Asian and Latin American economies. Our empirical results indicate that different vintages of the model of international reserves give different inferences about the appropriate...

Persistent link: https://www.econbiz.de/10005558124

The Suitability of A Greater China Currency Union

Cheung, Yin-wong; Yuen, Jude - Hong Kong Institute for Monetary Research (HKIMR), … - 2004

The study assesses the level of integration among the three Greater China economies (namely China, Hong Kong, and Taiwan) and examines the suitability of a Greater China currency union. Currently, the three economies have extensive trade and investment linkages. Our analyses show that these...

Persistent link: https://www.econbiz.de/10005558154

An Output Perspective on a Northeast Asia Currency Union

Cheung, Yin-wong; Yuen, Jude - Hong Kong Institute for Monetary Research (HKIMR), … - 2005

The prospect of creating a currency union consisting of China, Japan, and Korea is evaluated using output data. After a brief discussion on the interactions between the three countries, the study investigates whether these three countries have common synchronous business cycles, which are...

Persistent link: https://www.econbiz.de/10005435854

Does the Chinese Interest Rate Follow the US Interest Rate?

Cheung, Yin-wong; Tam, Dickson; Yiu, Matthew S. - Hong Kong Institute for Monetary Research (HKIMR), … - 2006

One argument for floating the Chinese renminbi (RMB) is to insulate China¡¦s monetary policy from the US effect. However, we note that both theoretical considerations and empirical results do not offer a definite answer on the link between exchange rate arrangement and policy dependence. We...

Persistent link: https://www.econbiz.de/10005435860