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China's exchange rate and financial repression : the conflicted emergence of the renminbi as an international currency

McKinnon, Ronald I.; Schnabl, Gunther - 2014

China has been provoked into speeding renminbi internationalization. But despite rapid growth in offshore financial … could attract even more hot money inflows, the People's Bank of China should focus on tightly stabilizing the yuan/ dollar … exchange rate to encourage naturally high wage increases for balancing China's international competitiveness. …

Persistent link: https://www.econbiz.de/10010249643

China's Exchange Rate and Financial Repression : The Conflicted Emergence of the Renminbi as an International Currency

McKinnon, Ronald I. - 2014

China has been provoked into speeding renmnibi internationalization. But despite rapid growth in offshore financial … could attract even more hot money inflows, the People's Bank of China should focus on tightly stabilizing the yuan …/dollar exchange rate to encourage naturally high wage increases for balancing China's international competitiveness …

Persistent link: https://www.econbiz.de/10013057253

China's exchange rate and financial repression : the conflicted emergence of the RMB as an international currency

McKinnon, Ronald I.; Schnabl, Gunther - In: China & world economy 22 (2014) 3, pp. 1-35

Persistent link: https://www.econbiz.de/10010411132

China and its Dollar exchange rate : a worldwide stabilizing influence?

McKinnon, Ronald I.; Schnabl, Gunther - 2011

potentially subsidized capital allocation in China the real yuan/dollar rate is undervalued. This has caused - both in China and …-American policy coordination to escape from the policy dilemma, which continues to drive global imbalances. -- China ; exchange rate …

Persistent link: https://www.econbiz.de/10009127709

China and its Dollar Exchange Rate : A Worldwide Stabilizing Influence?

McKinnon, Ronald I. - 2013

potentially subsidized capital allocation in China the real yuan/dollar rate is undervalued. This has caused - both in China and …

Persistent link: https://www.econbiz.de/10013093442

The East Asian Dollar Standard, Fear of Floating, and Original Sin

McKinnon, Ronald I. - 2007

Before the crisis of 1997-98, the East Asian economies except for Japan but including China pegged their currencies to …

Persistent link: https://www.econbiz.de/10012729302

Externally imposed financial repression, conflicted internationalisation of the renminbi and external balancing via wage adjustment

Schnabl, Gunther - In: Central banking and financial stability in East Asia, (pp. 125-139). 2015

Persistent link: https://www.econbiz.de/10014546792

Monetary Policy Reform in a World of Central Banks

Schnabl, Gunther - 2012

The paper identifies based on the monetary over investment theories by Wicksell (1898), Mises (1912) and Hayek (1929) monetary policy mistakes in large industrial countries issuing international currencies. It its argued that a neglect towards monetary policy reform in a world dominated by...

Persistent link: https://www.econbiz.de/10013111361

Monetary policy reform in a World of Central Banks

Schnabl, Gunther - 2011

The paper identifies based on the monetary overinvestment theories by Wicksell (1898), Mises (1912) and Hayek (1929) monetary policy mistakes in large industrial countries issuing international currencies. It its argued that a neglect towards monetary policy reform in a world dominated by...

Persistent link: https://www.econbiz.de/10009508892

Monetary policies of large industrialised countries, emerging market credit cycles and feedback effects

Andreas, Hoffmann; Schnabl, Gunther - 2014

This paper explores the link between monetary policies of large industrial countries and international credit cycles. Based on an overinvestment framework, we show that in the prevailing asymmetric world monetary system, monetary policies of large centre countries can fuel credit booms in...

Persistent link: https://www.econbiz.de/10010337620