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Aloosh, Arash - 2019

We examine the ability of existing and new factor models to explain the comovements of G10- currency changes, measured using the novel concept of "currency baskets", representing the overall movement of a particular currency. Using a clustering technique, we find a clear two-block structure in...

Persistent link: https://www.econbiz.de/10012479405

New Estimation of China's Exchange Rate Regime

Frankel, Jeffrey A. - 2009

The paper updates the answer to the question: what precisely is the exchange rate regime that China has put into place …

Persistent link: https://www.econbiz.de/10012463947

Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes

Frankel, Jeffrey A. - 2009

the next step in estimation of de facto exchange rate regimes: endogenous estimation of parameter breakpoints, following …

Persistent link: https://www.econbiz.de/10012463030

Estimation of De Facto Exchange Rate Regimes : Synthesis of the Techniques for Inferring Flexibility and Basket Weights

Frankel, Jeffrey A. - 2008

The paper offers a new approach to estimate de facto exchange rate regimes, a synthesis of two techniques. One is a technique that the authors have used in the past to estimate implicit de facto weights when the hypothesis is a basket peg with little flexibility. The second is a technique used...

Persistent link: https://www.econbiz.de/10012464630

On the Desirability of a Regional Basket Currency Arrangement

Ogawa, Eiji - 2000

This paper considers a theoretical model to examine an optimal exchange rate regime for (Asian) emerging market economies that export goods to the U.S., Japan, and neighboring countries. The optimality of the exchange rate regime is defined as minimizing the fluctuation of trade balances, in the...

Persistent link: https://www.econbiz.de/10012470729

Rethinking Exchange Rate Regimes

Ilzetzki, Ethan; Reinhart, Carmen M.; Rogoff, Kenneth S. - National Bureau of Economic Research - 2021

volatility of exchange rates at the core of the system. It concludes with issues surrounding the rise of China …

Persistent link: https://www.econbiz.de/10012660025

Dollar Rivals

Frankel, Jeffrey A. - National Bureau of Economic Research - 2023

Written on the 50th anniversary of floating exchange rates, this paper deals with possible alternatives to a unipolar dollar-based system. It considers (1) measures of international currency use; (2) potential challengers to the dollar; (3) network externalities; and (4) the plausibility of gold...

Persistent link: https://www.econbiz.de/10014322863

The Macroeconomic Consequences of Exchange Rate Depreciations

Fukui, Masao; Nakamura, Emi; Jón Steinsson - National Bureau of Economic Research - 2023

We study the consequences of "regime-induced" exchange rate depreciations by comparing outcomes for peggers versus floaters to the US dollar in response to a dollar depreciation. Pegger currencies depreciate relative to floater currencies and these depreciations are strongly expansionary. The...

Persistent link: https://www.econbiz.de/10014287380

The Dollar in an Era of International Retrenchment

Chahrour, Ryan; Valchev, Rosen - National Bureau of Economic Research - 2023

-for-tat responses between just the US and China would likely leave the dollar's role essentially unchanged. If both countries coordinate …

Persistent link: https://www.econbiz.de/10014322792

On the Renminbi : The Choice between Adjustment under a Fixed Exchange Rate and Adjustment under a Flexible Rate

Frankel, Jeffrey - 2005

for China. (1) China's economy is on the overheating side of internal balance, and appreciation would help easy … inflationary pressure. (2) Although foreign exchange reserves are a useful shield against currency crises, by now China's current … economy like China can achieve adjustment in the real exchange rate via flexibility in the nominal exchange rate more easily …

Persistent link: https://www.econbiz.de/10012467410

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