This paper studies the impact of a broadening of the SDR basket to the Chinese currency on the composition and volatility of the basket. Although, in the past, RMB inclusion would have had negligible impact due to its limited weight, a much more significant impact can be expected in the next...

Die chinesische Währungspolitik steht weltweit in der Kritik. Die Dollarbindung des Yuan hat sich jedoch als Stabilitätsanker für die ostasiatische Region bewährt. Der globale Handel profitiert von der stabilen Wirtschaftsentwicklung in dieser Region. Allerdings führt das Festhalten an...

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...

China and the U.S. have a close but complicated economic relationship. This note provides a fuller picture of the tightening embrace between the two countries - in terms of flows of goods and services, financial capital and people - and discusses the potential flashpoints in this relationship....