Showing 1 - 10 of 2,800
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
On 21 July 2005 China adopted an undisclosed basket exchange rate regime. We formally assess and envisage the gradual … evolution of the renminbi over time. We utilize nonlinear dependencies in the renminbi exchange rate and describe the smooth … transition of the renminbi/U.S. dollar (RMB/USD) exchange rate using the family of time-varying autoregressive (TV-AR) models …
Persistent link: https://www.econbiz.de/10010264340
One argument for floating the Chinese renminbi (RMB) is to insulate China's monetary policy from the US effect. However … US dollar, China has alternative measures to retain its policy independence and de-link its interest rates from the US … rate. In other words, the argument for a flexible RMB to insulate China's monetary policy from the US effect is not …
Persistent link: https://www.econbiz.de/10010264088
We use the Kalman filter to estimate the structure of the secret currency basket of the renminbi based on daily data …
Persistent link: https://www.econbiz.de/10010270870
recommended by Zhou Xiaochuan, head of the People’s Bank of China. To avoid rapid forgetting of havoc from isolationist clean …
Persistent link: https://www.econbiz.de/10010274185
This paper analyzes the optimal transition of the exchange rate regime in the People's Republic of China (PRC). How the …
Persistent link: https://www.econbiz.de/10010397284
China's increasing trade volume and continuous integration with global financial markets have strengthened the … influences of the renminbi on the exchange rates of different currencies. Previous studies find closer co-movements between the … renminbi and other currencies. This paper is novel to investigate the underlying determinants of the comovement further, using …
Persistent link: https://www.econbiz.de/10015397997
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
Monetary policy in CEE is an important determinant in the wage bargaining process, because trade unions have to predict inflation as one component of future real wages. This paper scrutinizes whether countries in CEE that officially announce an inflation target are tempted to act...
Persistent link: https://www.econbiz.de/10010308235
The emergence of the gold standard has for a long time been viewed as inevitable. Fluctuations of the gold-silver exchange rate in world markets were accused to lead to brutal and unsustainable switches of bimetallic countries' money supplies. However, more recent work has shown that the option...
Persistent link: https://www.econbiz.de/10010316773