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undervaluation, the results are not significant in the statistical sense. We also note that China is playing an important economic … from foreign countries and short-run considerations may have undesirable effects on the economies of China and the Asian …
Persistent link: https://www.econbiz.de/10005357480
The nominal exchange rate is both a macroeconomic variable equilibrating international markets and a financial asset that embodies expectations and prices risks associated with cross border currency holdings. Recognizing this, we adopt a joint macro-finance strategy to model the exchange rate....
Persistent link: https://www.econbiz.de/10008852900
displays considerable persistence. Our analysis provides evidence that the knock-on effects from China¡¦s currency forwards …
Persistent link: https://www.econbiz.de/10005357432
This report identifies a set of policy lessons for China today drawn from the experience of financial deregulation … exercise. Based on the Scandinavian experience and the added complexity of China¡¦s status as a transition economy, financial …
Persistent link: https://www.econbiz.de/10005064046
The value of China's currency, the renminbi (RMB), and the conduct of China's exchange rate policy have generated …
Persistent link: https://www.econbiz.de/10008677826
on the economies of both mainland China and Hong Kong. It focuses on the sequencing of Renminbi¡¦s full convertibility … restrictions on capital/financial account convertibility in China. There is still a long way to go before these restrictions can be … removed completely. China¡¦s accession to the World Trade Organization (WTO) will surely drive the course of Renminbi¡¦s full …
Persistent link: https://www.econbiz.de/10005558122
up appreciation pressure on a fixed exchange regime in a partially-open economy such as China. A deregulated market …
Persistent link: https://www.econbiz.de/10005435861
international currency. If the renminbi were to become a dominant international currency, it would require China to attain a much …
Persistent link: https://www.econbiz.de/10010929641
We investigate the performance and risk of currency hedge funds using a large and unique consolidated currency hedge fund dataset. We find that a substantial number of hedge funds generate returns that exceed foreign exchange risk premia obtained through carry trades. The best alpha-generating...
Persistent link: https://www.econbiz.de/10011211974
We re-assess exchange rate prediction using a wider set of models that have been proposed in the last decade: interest rate parity, productivity based models, and a composite specification. The performance of these models is compared against two reference specifications - purchasing power parity...
Persistent link: https://www.econbiz.de/10011211976