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The evolution of offshore renminbi trading : 2016 to 2019
Cheung, Yin-Wong; Grimm, Louisa; Westermann, Frank - 2020
We study the evolution of offshore renminbi trading between 2016 and 2019. The diffusion behaviour of offshore renminbi trading during this period is different from the one between 2013 and 2016. The geographical diffusion process displayed in the 2016-2019 period, in addition to the previously...
Persistent link: https://www.econbiz.de/10012234514
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Currency unions, trade, and heterogeneity
Chen, Natalie; Novy, Dennis - 2018
How do trade costs affect international trade? This paper offers a new approach. We rely on a flexible gravity equation that predicts variable trade cost elasticities, both across and within country pairs. We apply this framework to the effect of currency unions on international trade. While we...
Persistent link: https://www.econbiz.de/10011867116
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China's exchange rate and financial repression : the conflicted emergence of the renminbi as an international currency
McKinnon, Ronald I.; Schnabl, Gunther - 2014
China has been provoked into speeding renminbi internationalization. But despite rapid growth in offshore financial markets in RMB, the Chinese authorities are essentially trapped into maintaining exchange controls-reinforced by financial repression in domestic interest rates→to avoid an...
Persistent link: https://www.econbiz.de/10010249643
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How much intraregional exchange rate variability could a currency union remove? : the case of ASEAN+3
Qin, Duo (contributor); Tan, Tao (contributor) - 2008
of the world. The intraregional exchange rate variability is thus latent. A two-step procedure is developed to measure …
Persistent link: https://www.econbiz.de/10003740327
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Changing trade patterns, unchanging European and global governance
O'Neill, Jim; Terzi, Alessio - 2014
The world economy is going through its biggest transformation in a relatively short space time. There have been many … seems little understood. In turn, there has been little preparation for, or adjustment to, this changing world, though if …. We highlight the dramatic degree of the shifts taking place in world GDP and trade and include fresh projections of what …
Persistent link: https://www.econbiz.de/10010354737
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China's current account and exchange rate
Cheung, Yin-Wong; Chinn, Menzie David; Fujii, Eiji - 2009
predicted by estimates based upon a cross-country sample, when using the 2006 vintage of the World Development Indicators. The …
Persistent link: https://www.econbiz.de/10003818038
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Do global value chains amplify global imbalances?
López-Villavicencio, Antonia; Mignon, Valérie - 2018
Persistent link: https://www.econbiz.de/10012060277
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Gross capital flows, common factors, and the global financial cycle
Barrot, Luis-Diego; Servén, Luis - 2018
, the U.S. real interest rate and real exchange rate, U.S. GDP growth, and world commodity prices) that explain much of the …
Persistent link: https://www.econbiz.de/10011843378
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The causal effect of the Dollar on trade
Ma, Sai; Schmidt-Eisenlohr, Tim; Zhang, Shaojun - 2020
This paper establishes a causal link between the dollar exchange rate and international trade flows, employing a new instrument for the U.S. Dollar that is based on domestic U.S. housing activity (Ma and Zhang (2019)). In line with the dominant currency paradigm (Gopinath et al. (2020)), import...
Persistent link: https://www.econbiz.de/10012319440
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The financial channel of the exchange rate and global trade
Ma, Sai; Schmidt-Eisenlohr, Tim - 2023
This paper provides evidence that the U.S. dollar affects countries' exports through the financial channel of the exchange rate (Bruno and Shin (2015)). Using global data on trade between countries whose currency is not the U.S. dollar, it documents a positive relationship between the dollar and...
Persistent link: https://www.econbiz.de/10014293276