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The process of Asias rise to a position of eminence in global finance has accelerated in the wake of the international financial crisis, posing new opportunities and challenges to both the Asian economies and the global financial and trade systems. This volume represents a significant new...
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: HOW DIFFERENT IS CHINA? -- 1 Introduction -- 2 Does the business cycle framework work for China? -- 3 Informal examination … of China's provincial data -- 4 A test of the perfect risk-sharing hypothesis -- 5 Conclusion -- Statistical Appendix …
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The value of China's currency, the renminbi (RMB), and the conduct of China's exchange rate policy have generated …
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We find that Chinese trade flows respond to economic activity and relative prices -- as represented by a trade weighted exchange rate -- but the relationships are not always precisely or robustly estimated. Chinese exports are generally well-behaved, rising with foreign GDP and decreasing as the...
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China is now the world’s second largest economy and may soon overtake the United States as the world’s largest. Despite … its adoption of some free-market principles, China considers itself a “socialist-market economy,” suggesting that the … in China’s rapid economic growth: exchange rate policy, savings and investment, monetary policy and capital controls, and …
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The prospect of creating a currency union consisting of China, Japan, and Korea is evaluated using output data. After a …
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We evaluate whether the Renminbi (RMB) is misaligned, relying upon conventional statistical methods of inference. A framework built around the relationship between relative price and relative output levels is used. We find that, once sampling uncertainty and serial correlation are accounted for,...
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