Fratzscher, Marcel; Mehl, Arnaud - C.E.P.R. Discussion Papers - 2011
, the euro and the Chinese renminbi (RMB). It focuses on what we call China’s" dominance hypothesis", i.e. whether the … renminbi is already the dominant currency in Asia, exerting a large influence on exchange rate and monetary policies in the … global financial crisis. These results are consistent with China’s dominance hypothesis and with the view that the …