Similar Search Results

Yen Bloc or Yuan Bloc : An Analysis of Currency Arrangements in East Asia

Shirono, Kazuko - 2009

This paper examines the role of Japan against that of China in the exchange rate regime in East Asia in light of growing interest in forming a currency union in the region. The analysis suggests that currency unions with China tend to generate higher average welfare gains for East Asian...

Persistent link: https://www.econbiz.de/10014404286

RMB Internationalization : Onshore/Offshore Links

Maziad, Samar - 2012

Among emerging market currencies, the RMB holds the most potential to become widely used internationally, due to China‘s large economic size, diversified trade structure and network, macroeconomic stability, and high growth rates - both current and expected. Yet, foreign access to...

Persistent link: https://www.econbiz.de/10014396567

Do old habits die hard? : central banks and the Bretton Woods gold puzzle

Monnet, Eric; Puy, Damien - 2019

Why did monetary authorities hold large gold reserves under Bretton Woods (1944-1971) when only the US had to? We argue that gold holdings were driven by institutional memory and persistent habits of central bankers. Countries continued to back currency in circulation with gold reserves,...

Persistent link: https://www.econbiz.de/10012102163

Revisiting the Concept of Dollarization: The Global Financial Crisis and Dollarization in Low-Income Countries

2015 - Mwase, Nkunde ; Kumah, Francis Y. ed

The economic literature has examined deposit dollarization in nominal terms, typically focusing on the ratio of foreign currency deposits to broad money. However, while private agent demand for foreign currency may remain unchanged in foreign currency terms, there could be large fluctuations in...

Persistent link: https://www.econbiz.de/10014411923

Global banks' dollar funding : a source of financial vulnerability

Barajas, Adolfo; Deghi, Andrea; Raddatz, Claudio E.; … - 2020

Leading up to the global financial crisis, US dollar activity by global banks headquartered outside the United States played a crucial role in transmitting shocks originating in funding markets. Although post-crisis regulation has improved banking systems' resilience, US dollar funding remains a...

Persistent link: https://www.econbiz.de/10012252271

The International Monetary System : Where Are We and Where Do We Need to Go?

Mohan, Rakesh - 2013

The North Atlantic financial crisis of 2008-2009 has spurred renewed interest in reforming the international monetary system, which has been malfunctioning in many aspects. Large and volatile capital flows have promoted greater volatility in financial markets, leading to recurrent financial...

Persistent link: https://www.econbiz.de/10014394532

The international monetary system : where are we and where do we need to go?

Mohan, Rakesh; Patra, Michael Debabrata; Kapur, Muneesh - 2013

Persistent link: https://www.econbiz.de/10010389956

Global Financial Crises : Institutions and Incentives

Kumar, Manmohan S. - 2000

Increasing emphasis has been placed on the need for an effective lender of last resort for sovereign states and on procedures for sovereign debt restructuring to help cope with global financial crises. Where private creditors use short-term debt to check sovereign debtor’s moral hazard, there...

Persistent link: https://www.econbiz.de/10014399920

Development of the Renminbi Market in Hong Kong SAR : Assessing Onshore-Offshore Market Integration

Craig, Richard Sean - 2013

Offshore use of the renminbi expanded rapidly in Hong Kong SAR as China sought to develop an international role for its … currency while maintaining capital controls. This prompts two questions addressed in this paper: How far advanced is renminbi … integration of offshore and onshore markets for the renminbi using a Threshold Autoregression (TAR) model and finds that there are …

Persistent link: https://www.econbiz.de/10014411281

Spillover Effects of Exchange Rates : A Study of the Renminbi

Subramanian, Arvind - 2012

This paper estimates the impact of China''s exchange rate changes on exports of competitor countries in third markets, which we call the ""spillover effect"". We use recent theory to develop an identification strategy in which competition between China and its developing country competitors in...

Persistent link: https://www.econbiz.de/10014396835