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New Zealand's Exchange Rate Cycles: Impacts and Policy
Mabin, Gemma - 2011
This paper explores the impact of New Zealand's exchange rate variability on the tradable sector, and policy options for dampening exchange rate variability. It finds that exchange rate variability in the medium term is likely to have a negative impact on the tradable sector. However, the link...
Persistent link: https://www.econbiz.de/10012115626
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Macroeconomic trade effects of vehicle currencies: Evidence from 19th century China
El-Shagi, Makram; Zhang, Lin - 2016
rarely been addressed. This is partly due to identification problems caused by its international importance. China had … China, the global role of silver was marginal, alleviating said identification problems. We develop a bias corrected …
Persistent link: https://www.econbiz.de/10011500790
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Automating exchange rate target zones: intervention via an electronic limit order book
Melvin, Michael; Menkhoff, Lukas; Schmeling, Maik - 2008
This paper describes and analyzes automated intervention of a target zone. Unusually detailed information about the order book allows studying intervention effects in a microstructure approach. We find in our sample that intervention increases exchange rate volatility (and spread) for the next...
Persistent link: https://www.econbiz.de/10010264306
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New Zealand's Exchange Rate Cycles: Evidence and Drivers
Mabin, Gemma - 2010
This paper seeks to understand the extent of New Zealand's exchange rate fluctuations compared to others, and what drives New Zealand's exchange rate. New Zealand has only experienced a limited number of exchange rate cycles since the dollar was floated. On a trade-weighted basis this paper...
Persistent link: https://www.econbiz.de/10012115625
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The sustainability of China's exchange rate policy and capital account liberalisation
Cappiello, Lorenzo; Ferrucci, Gianluigi - 2008
This paper deals with two related issues: the sustainability of China’s exchange rate regime and the opening up of its … to avoid disruptive capital flows. The paper discusses China’s twin surpluses of the current and capital accounts and … the outlook for Chinese capital flows should barriers to capital movements be lifted. It argues that whether China …
Persistent link: https://www.econbiz.de/10011606234
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Exchange Rate or Wage Changes in International Adjustment? Japan and China versus the United States
McKinnon, Ronald - 2005
China or Japan, has no predictable effect on its trade surplus. Currency appreciation by the creditor country will slow its …-growth and low-growth economies, as between Japan and the U.S. from in 1950 to 1971 and China and the U.S. from 1994 to 2005 … growth. The qualified case for China moving toward greater flexibility in the form of a very narrow band for the yuan …
Persistent link: https://www.econbiz.de/10010297476
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China and its Dollar exchange rate: A worldwide stabilizing influence?
McKinnon, Ronald; Schnabl, Gunther - 2011
potentially subsidized capital allocation in China the real yuan/dollar rate is undervalued. This has caused -both in China and …
Persistent link: https://www.econbiz.de/10010275052
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On the renminbi
Frankel, Jeffrey - In: CESifo Forum 06 (2005) 3, pp. 16-21
Persistent link: https://www.econbiz.de/10011695808
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Is revaluation of the renminbi good news?
Rossi, Vanessa - In: CESifo Forum 06 (2005) 3, pp. 29-36
Persistent link: https://www.econbiz.de/10011695810
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Reading a target zone in Keynes's 'Indian currency and finance'
Smith, Gregor W. - 1994
The gold-exchange standard in India 1893-1913 was characterized by a narrow target zone for the exchange rate, a wide annual range for the international interest-rate differential, and negative (seasonal) autocorrelation in interest rates. These properties are consistent with a standard...
Persistent link: https://www.econbiz.de/10010290419