Showing 1 - 10 of 11
We propose a normative assessment of the value of international trade that is rooted in production theory and embeds Ricardo's 1817 formulation of the gains from trade into a multi-factor general equilibrium framework. Without imposing strong assumptions on consumer rationality or data from the...
Persistent link: https://www.econbiz.de/10010283601
China keeps its exchange rate tightly fixed to the dollar. Its productivity growth and trade surplus have been high … reduce China's trade surplus but could cause serious deflation in China. To show this, we consider international adjustment … between China and the United States from both an asset-market and a labor-market perspective, and compare this to Japan …
Persistent link: https://www.econbiz.de/10010263911
We evaluate whether the Renminbi (RMB) is misaligned, relying upon conventional statistical methods of inference. A framework built around the relationship between relative price and relative output levels is used. We find that, once sampling uncertainty and serial correlation are accounted for,...
Persistent link: https://www.econbiz.de/10010264069
provides an important role model for China, this paper studies the role of the yen/dollar exchange rate for Japanese monetary …
Persistent link: https://www.econbiz.de/10010264171
On 21 July 2005 China adopted an undisclosed basket exchange rate regime. We formally assess and envisage the gradual …
Persistent link: https://www.econbiz.de/10010264340
capital stock is accounted for. Thus, the China-US trade balance should respond to real exchange rate and relative income …
Persistent link: https://www.econbiz.de/10010264589
Since the 2008 global financial crisis, China has rolled out a number of initiatives to actively promote the … currency composition of China's international assets and liabilities. These factors include, among others, underlying valuation …
Persistent link: https://www.econbiz.de/10010270641
Since 2004, China has been backed into a situation where the renminbi is expected to go ever higher against the dollar ….S. dollar, the resulting monetary explosion in China contributes to the worldwide increase in primary commodity priceswith …
Persistent link: https://www.econbiz.de/10010275871
constitute long-term appreciation expectations on yuan and yen, which have made China and Japan vulnerable to U.S. interest rate … cuts and appreciation expectation shocks. For both China and Japan – at different points of time – self-fulfilling runs …, speculative bubbles and post-bubble secular stagnation. To prevent a similar scenario for China capital controls, a tighter …
Persistent link: https://www.econbiz.de/10011480485
. We suggest this model has relevance to the current situation in China where services remain unliberalized and tariff … analysis provides an intellectual counter argument to those presently advocating a free Renminbi float for China. …
Persistent link: https://www.econbiz.de/10010261196