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China's dominance hypothesis and the emergence of a tri-polar global currency system
Fratzscher, Marcel; Mehl, Arnaud - 2011
euro and the Chinese renminbi (RMB). It focuses on what we call China’s “dominance hypothesis”, i.e. whether the renminbi … global financial crisis. These results are consistent with China’s dominance hypothesis and with the view that the … international monetary system is already tri-polar. However, we also find that China’s currency movements are to some extent …
Persistent link: https://www.econbiz.de/10011605438
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Bilateral Exchange Rates and Jobs
Bekkers, Eddy; Francois, Joseph - 2012
We study the labor market effects of bilateral exchange rate realignment. We place emphasis on the composition of trade, the role of intermediates, and the underlying conditions of the labor market. Employment effects hinge on the fraction exported to and imported from the trading partner. A...
Persistent link: https://www.econbiz.de/10010294878
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Transpacific imbalances and macroeconomic codependency
Thorbecke, Willem - 2011
argues that this strategy is causing macroeconomic problems for the People's Republic of China (PRC). Inflation is rising …, helping the People's Bank of China to implement monetary policy that is appropriate for the PRC. Since exchange rate …
Persistent link: https://www.econbiz.de/10010279816
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Purchasing power parity: Granger causality tests for the yen-dollar exchange rate
Schnabl, Gunther; Baur, Dirk - 2001
The paper analyses the causality between the Japanese-US relative export prices and the yen-dollar exchange rate. It explains why the Japanese yen proved strong even during the economic slump of the 1990s. The paper suggests that the appreciation of the Japanese yen forced the Japanese...
Persistent link: https://www.econbiz.de/10010305044
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Purchasing power parity and the European single currency: some new evidence
Christidou, Maria; Panagiotidis, Theodore - 2010
The effect of the single currency on the Purchasing Power Parity (PPP) hypothesis is examined in this study for the 15 EU countries, vis a vis the US dollar, before and after the advent of the euro. Standard as well as nonlinear unit root tests are employed on the time series dimension. Unit...
Persistent link: https://www.econbiz.de/10010273678
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Is it desirable for Asian economies to hold more Asian assets in their foreign exchange reserves? The People's Republic of China's answer
Zhang, Bin - 2011
People's Republic of China's (PRC) imports of goods and services, namely the real return on those assets from the PRC …
Persistent link: https://www.econbiz.de/10010279772
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Is the Chinese currency substantially misaligned to warrant further appreciation?
Qin, Duo; He, Xinhua - 2010
This study provides quarterly time-series estimates of the misalignment in the REER of the Renminbi (RMB). The …
Persistent link: https://www.econbiz.de/10010280745
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Strukturelle Verzerrungen im Währungskrieg
Schnabl, Gunther - In: Wirtschaftsdienst 91 (2011) 2, pp. 102-106
Region. Allerdings führt das Festhalten an einem real unterbewerteten Yuan zu Verzerrungen der Wirtschaftsstruktur bei China …
Persistent link: https://www.econbiz.de/10010293608
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The international monetary systerm is changing : What opportunities and risks for the Euro?
Angeloni, Ignazio; Sapir, André - 2011
dollar’s decline are the euro and the Chinese renminbi. The probability that the renminbi will eventually become one of the …
Persistent link: https://www.econbiz.de/10010317320
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Pegging the Renminbi to a basket: Facts, prospects and consequences
Oksanen, Heikki - 2010
On 19 June 2010 the Chinese authorities announced that the renminbi (RMB) was henceforth to be pegged to a currency … Seoul Summit on 11-12 November 2010, China committed to further reform the RMB exchange rate regime. We discuss here what a … genuine basket peg could mean for China, with the view that the weight for the EUR should obviously be significantly increased …
Persistent link: https://www.econbiz.de/10010274952