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analysis. Findings– First, it has been found that the movements in the RMB dollar exchange rate do influence the dollar euro … implied that the RMB is overvalued vis-à-vis the US dollar, as the analysis suggests that an overvalued euro vis-à-vis the US … dollar would imply a kind of overvaluation of the RMB vis-à-vis the US dollar, and by any conventional measures the euro has …
Persistent link: https://www.econbiz.de/10010741347
their volatility on trade flows in China, the Euro area and the United States in two broadly defined sectors, agriculture on …
Persistent link: https://www.econbiz.de/10010899210
Recent empirical studies show that the Chinese currency renminbi is either becoming or has become a dominant reference currency in Asia. However, the high correlation between the US dollar and renminbi movements hampers the identification of their individual effects on the Asian currencies. In...
Persistent link: https://www.econbiz.de/10011163292
We study whether Central and Eastern European Countries (CEECs) have an incentive to use the euro as a monetary anchor …. Adapting a cross-section estimation method initiated by Bayoumi and Eichengreen, we show that, compared to an optimum currency … area standard, the CEECs have paid too much attention to the USD in the past and should prefer the euro to the dollar as a …
Persistent link: https://www.econbiz.de/10005715005
that the nominal effective exchange rate of the union was twice as volatile under the hard peg to the euro as it would have … in WAEMU trade patterns, away from euro area countries and toward the ?"BICs" (Brazil, India, and China). These findings …
Persistent link: https://www.econbiz.de/10011242283
or clustering type behaviour. At an econometric level, the model is shown to nest various extant dynamic panel data … appropriate model for the aggregate series becomes intrinsically nonlinear, due to the clustering behaviour, and thus requires the … disaggregates to be simultaneously considered with the aggregate. We provide the associated asymptotic theory for estimation and …
Persistent link: https://www.econbiz.de/10009647759
or clustering type behaviour. At an econometric level, the model is shown to nest various extant dynamic panel data … appropriate model for the aggregate series becomes intrinsically nonlinear, due to the clustering behaviour, and thus requires the … disaggregates to be simultaneously considered with the aggregate. We provide the associated asymptotic theory for estimation and …
Persistent link: https://www.econbiz.de/10011052336
This paper investigates the evolution of China's exchange rate regime after the announced shift to a managed floating exchange rate regime with reference to a basket of currencies in July 2005. We find that the RMB basket is essentially a one currency basket of the US dollar. In view of this...
Persistent link: https://www.econbiz.de/10010944907