trade between China and the U.S. in order to avoid the well-known aggregation bias. Estimates of symmetric error … in assessing the effects of the RE misalignment on trade flows between the U.S. and China and confirms that the impacts …

inflation observed in the European catching-up countries, which suggests that other factors may be at play. In these and related … non-traded sectors) on the dual inflation differential is more than twice as large as that in the "flexible" countries. We … conclude that, in a catching-up country, premature euro adoption may foster excess inflation, beyond that which is to be …

attaining full convertibility or meeting other prerequisites for achieving reserve currency status. Ultimately, China will …) "internationalization" of the currency; (ii) currency convertibility; and (iii) reserve currency status. Their sequencing in relation to … changes for the balance and sustainability of China's own economic development as well as the associated implications for the …