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Identifying exogenous variation in monetary policy is crucial for investigating central bank policy transmission. Using newly-collected archival real-time data utilized by the Central Bank Council of the German Bundesbank, we identify unexpected changes in German monetary policy from 580 policy...
Persistent link: https://www.econbiz.de/10013412978
(GDP) and trade volume, has intensified debate on the potential international role of its currency - the renminbi (RMB …
Persistent link: https://www.econbiz.de/10010397329
euro and the Chinese renminbi (RMB). It focuses on what we call China’s “dominance hypothesis”, i.e. whether the renminbi …
Persistent link: https://www.econbiz.de/10011605438
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...
Persistent link: https://www.econbiz.de/10010290137
China hat erste Schritte unternommen, die auf eine Internationalisierung des Renminbi hindeuten. So hat das Land … zugelassen. Die Nutzung von Hongkong als Prüfstein für eine Internationalisierung des Renminbi ermöglicht die Entwicklung eines … Offshore-Renminbi-Marktes. In diesem Zusammenhang bedeutete die stillschweigende erneute Anbindung des Renminbi an den US …
Persistent link: https://www.econbiz.de/10011602172
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
, China has been backed into a situation where the renminbi is expected to go ever higher against the dollar, and this one …
Persistent link: https://www.econbiz.de/10010304732
decades and on potential displacement effects of renminbi (RMB) appreciation. …
Persistent link: https://www.econbiz.de/10011386284