, which is not conducive to countering the impact of external shocks. We show that China's macroeconomic responses to external …

China's exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The …

changes in China’s exchange rate policy in 2005 and 2010 and employing data on some 6,000 firms in 44 economies. Stock returns … market sentiment and specific trade effects. Expected renminbi appreciation has a positive effect on firms exporting to China … competing with China in their home market but fall for firms importing Chinese products with large imported-input content. There …

The number of studies attempting to estimate the ""equilibrium"" real value of China''s currency has proliferated in … significant part of China''s competitive prowess can be attributed to the foreign exchange value of the renminbi. Unfortunately … in a rapidly developing economy like China …