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 …

cointegration framework to examine whether Chinese interest rates are driven by the Fed's policy. In a second step, we estimate a … monetary model for China, in which we include also other monetary policy tools besides the central bank interest rate, namely … reserve requirement ratios and open market operations. Our results suggest China has been relatively successful in isolating …

measures taken by China to internationalize its renminbi, including several bilateral swap agreements signed with other central … banks, have reinforced other eastward trends in the world economy. In this paper, China's acceleration of renminbi … internationalization is examined. The growth of renminbi-based trade and settlements has made it Asia's new reference currency, surpassing …

We analyze three related but distinct concepts concerning the renminbi's role in the global monetary system: (i … changes for the balance and sustainability of China's own economic development as well as the associated implications for the … global monetary system. While China is actively promoting the internationalization of its currency, it is a long way from …

market countries (Brazil, Russia, India and China), adding constraints that reflect a central bank’s desire to hold a sizable …

-dollar exchange rate over a period from 1975 to 1998 and applying cointegration approaches, four factors are identified as fundamental …