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Exchange Rate Misalignment - The Case of the Chinese Renminbi
Cheung, Yin-Wong - 2013
Assessing exchange rate misalignment is not an easy task. With reference to the debate on the value of China's currency …
Persistent link: https://www.econbiz.de/10013091077
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The RMB Central Parity Formation Mechanism : August 2015 to December 2016
Cheung, Yin-Wong - 2020
We study the renminbi (RMB) central parity formation mechanism following the August 2015 reform using statistical models. We identify the roles of the onshore and offshore RMB exchange rates and the US dollar index in determining the central parity in a linear regression framework. The effect of...
Persistent link: https://www.econbiz.de/10012854508
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Exchange Rate Dynamics Under Alternative Optimal Interest Rate Rules
Binici, Mahir - 2012
We explore the role of interest rate policy in the exchange rate determination process. Specifically, we derive exchange rate equations from interest rate rules that are theoretically optimal under a few alternative settings. The exchange rate equation depends on its underlying interest rule and...
Persistent link: https://www.econbiz.de/10013113128
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Exchange Rate Misalignment Estimates – Sources of Differences
Cheung, Yin-Wong - 2011
We study the differences in currency misalignment estimates obtained from alternative datasets derived from two International Comparison Program (ICP) surveys. A decomposition exercise reveals that the year 2005 misalignment estimates are substantially affected by the ICP price revision....
Persistent link: https://www.econbiz.de/10013119692
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Exchange Rate Dynamics Under Alternative Optimal Interest Rate Rules
Binici, Mahir - 2013
We explore the role of interest rate policy in the exchange rate determination process. Specifically, we derive exchange rate equations from interest rate rules that are theoretically optimal under a few alternative settings. The exchange rate equation depends on its underlying interest rate...
Persistent link: https://www.econbiz.de/10013092385
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Exchange Rate Misalignment Estimates - Sources of Differences
Cheung, Yin-Wong - 2013
We study the differences of currency misalignment estimates obtained from alternative datasets derived from two International Comparison Program (ICP) surveys. A decomposition exercise reveals that the year 2005 misalignment estimates are substantially affected by the ICP price revision....
Persistent link: https://www.econbiz.de/10013092474
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The Renminbi central parity : an empirical investigation
Cheung, Yin-Wong; Hui, Cho H.; Tsang, Andrew - 2016 - This version: April 2018
Persistent link: https://www.econbiz.de/10012200955
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The renminbi central parity : an empirical investigation
Cheung, Yin-Wong; Hui, Cho H.; Tsang, Andrew - 2016
On August 11 2015, China revamped its procedure of setting the official central parity of the renminbi (RMB) against … the US dollar. Our empirical investigation shows that the intertemporal dynamics of China's central parity are not the … for the RMB exchange rate against the currency basket revealed by China in December 2015 in the fixing process. …
Persistent link: https://www.econbiz.de/10011497600
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The RMB exchange rate : past, current, and future
Cheung, Yin-Wong; Chow, Kenneth K.; Qin, Fengming - 2017
Persistent link: https://www.econbiz.de/10011541944
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The RMB central parity formation mechanism : August 2015 to December 2016
Cheung, Yin-Wong; Hui, Cho H.; Tsang, Andrew - In: Journal of international money and finance 86 (2018), pp. 223-243
Persistent link: https://www.econbiz.de/10012000505