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The External Impact of China's Exchange Rate Policy: Evidence from Firm Level Data
Eichengreen, Barry; Tong, Hui - National Bureau of Economic Research (NBER) - 2011
We examine the impact of renminbi revaluation on firm valuations, considering two surprise announcements of changes in China's exchange rate policy in 2005 and 2010 and data on 6,050 firms in 44 countries. Renminbi appreciation has a positive effect on firms exporting to China but little...
Persistent link: https://www.econbiz.de/10009368130
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Exchange Rate Regimes and Capital Mobility: How Much of the Swoboda Thesis Survives?
Eichengreen, Barry - C.E.P.R. Discussion Papers - 2008
Alexander Swoboda is one of the originators of the bipolar view that capital mobility creates pressure for countries to abandon intermediate exchange rate arrangements in favor of greater flexibility and harder pegs. This paper takes another look at the evidence for this hypothesis using two...
Persistent link: https://www.econbiz.de/10005498132
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The Stealth Erosion of Dollar Dominance : Active Diversifiers and the Rise of Nontraditional Reserve Currencies
Arslanalp, Serkan; Eichengreen, Barry; Simpson-Bell, Chima - 2022
accompanied by an increase in the shares of the pound sterling, yen and euro, other long-standing reserve currencies and units … has been in two directions: a quarter into the Chinese renminbi, and three quarters into the currencies of smaller … countries that have played a more limited role as reserve currencies. A characterization of the evolution of the international …
Persistent link: https://www.econbiz.de/10013292745
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The Dollar and its Discontents
Eichengreen, Barry - 2021
The dollar fell by 10 per cent between its March 2020 high and the end of the calendar year, and many banks and forecasters expect it to fall further, by as much as 35 per cent in 2021. Dollar skeptics cite the end of safe-haven flows following the approval of COVID vaccines, the Federal...
Persistent link: https://www.econbiz.de/10013239235
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Gold as International Reserves : A Barbarous Relic No More?
Arslanalp, Serkan; Eichengreen, Barry; Simpson-Bell, Chima - 2023
shifting reserves into the currencies of other non-sanctioning countries …
Persistent link: https://www.econbiz.de/10014257753
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History, gravity and international finance
Chiţu, Livia; Eichengreen, Barry; Mehl, Arnaud - In: Journal of International Money and Finance 46 (2014) C, pp. 104-129
market entry and exit and endogenous learning. This effect is twice as large for bonds denominated in currencies other than … the dollar, suggesting the existence of even higher fixed costs of initiating US foreign investment in such currencies …
Persistent link: https://www.econbiz.de/10011048464
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History, gravity and international finance
Eichengreen, Barry; Mehl, Arnaud; Chiţu, Livia - 2012
, plausibly reflecting fixed costs of market entry and exit. This effect is twice as large for bonds denominated in currencies … other than the dollar, suggesting the existence of even higher fixed costs of initiating US foreign investment in currencies …
Persistent link: https://www.econbiz.de/10011605511
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Exchange rates and insulation in emerging markets
Eichengreen, Barry; Park, Donghyun; Ramayandi, Arief; … - 2020
The insulating properties of flexible exchange rates have long been a highly contentious issue in emerging markets - not least in Asian emerging markets. A number of recent theoretical and empirical studies question whether a trade-off exists between rigid exchange rate regimes and insulation...
Persistent link: https://www.econbiz.de/10012171308
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Exchange rates and insulation in emerging markets
Eichengreen, Barry; Park, Donghyun; Ramayandi, Arief; … - 2020
The insulating properties of flexible exchange rates have long been a highly contentious issue in emerging markets - not least in Asian emerging markets. A number of recent theoretical and empirical studies question whether a trade-off exists between rigid exchange rate regimes and insulation...
Persistent link: https://www.econbiz.de/10012429389
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Chinese Currency Controversies
Eichengreen, Barry - C.E.P.R. Discussion Papers - 2004
This Paper reviews the controversy over China’s exchange rate regime. Placing the issue in the context of the literature on exit strategies, it argues that now is the best time for China to exit from its peg. Moving to a managed float would be in the country’s own interest; it would help the...
Persistent link: https://www.econbiz.de/10005067647