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The Renminbifs Dollar Peg at the Crossroads
Obstfeld, Maurice - In: Monetary and Economic Studies 25 (2007) S1, pp. 29-56
feasible and attractive exit strategy from the essentially fixed renminbi(RMB) exchange rate would be a two-stage approach …
Persistent link: https://www.econbiz.de/10004971236
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The Renminbifs Dollar Peg at the Crossroads
Obstfeld, Maurice - Institute for Monetary and Economic Studies, Bank of Japan - 2007
In the face of huge balance of payments surpluses and internal inflationary pressures, China has been in a classic conflict between internal and external balance under its dollar currency peg. Over the longer term, Chinafs large, modernizing, and diverse economy will need exchange rate...
Persistent link: https://www.econbiz.de/10004975768
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The Renminbi's Dollar Peg at the Crossroads
Obstfeld, Maurice - C.E.P.R. Discussion Papers - 2006
In the face of huge balance of payments surpluses and internal inflationary pressures, China has been in a classic conflict between internal and external balance under its dollar currency peg. Over the longer term, China’s large, modernizing, and diverse economy will need exchange rate...
Persistent link: https://www.econbiz.de/10005497979
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The Undisclosed Renminbi Basket: Are the Markets Telling us something about where the Renminbi – US Dollar Exchange Rate is Going?
Funke, Michael; Gronwald, Marc - CESifo - 2008
evolution of the renminbi over time. We utilize nonlinear dependencies in the renminbi exchange rate and describe the smooth … transition of the renminbi/U.S. dollar (RMB/USD) exchange rate using the family of time-varying autoregressive (TV-AR) models …
Persistent link: https://www.econbiz.de/10005765921
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Volatility dependence across Asia-Pacific on-shore and off-shore U.S. dollar futures markets
Colavecchio, Roberta; Funke, Michael - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2007
This paper estimates switching autoregressive conditional heteroscedasticity (SWARCH) time series models for weekly returns of nine Asian forward exchange rates. We find two regimes with different volatility levels, whereby each regime displays considerable persistence. Our analysis provides...
Persistent link: https://www.econbiz.de/10005771106
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Volatility Transmission between Renminbi and Asia-Pacific on-shore and off-shore U.S. dollar futures
Colavecchio, Roberta; Funke, Michael - Institut für Makroökonomie und Wirtschaftspolitik, … - 2008
empirical results demonstrate that the renminbi non-deliverable forward (NDF) has been a driver of various Asian currency …
Persistent link: https://www.econbiz.de/10005823534
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The undisclosed Renminbi Basket: are the markets telling us something about where the Renminbi - US Dollar Exchange Rate is going?
Gronwald, Marc; Funke, Michael - Institut für Makroökonomie und Wirtschaftspolitik, … - 2008
evolution of the renminbi over time. We utilize nonlinear dependencies in the renminbi exchange rate and describe the smooth … transition of the renminbi/U.S. dollar (RMB/USD) exchange rate using the family of time-varying autoregressive (TV-AR) models …
Persistent link: https://www.econbiz.de/10005823536
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Internationalization of the Chinese Renminbi: An Opportunity for China
Stier, Olaf; Bernoth, Kerstin; Fisher, Alexander - In: Weekly Report 6 (2010) 17, pp. 126-132
China has taken first steps hinting at an internationalization of the Renminbi: The country has begun cautious action …. Promoting Hong Kong as a test center for the Renminbi's internationalization is pointing in the right direction because it at … least makes an offshore Renminbi market possible. Therefore, the silent re-pegging of the Renminbi to the US Dollar in 2008 …
Persistent link: https://www.econbiz.de/10008530632
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Beyond Cheap Talks: Assessing the Undervaluation of the Chinese Currency Between 1994 and 2007
Chen, Jinzhao - In: Economie Internationale (2009) 119, pp. 47-82
behavioral equilibrium exchange rate (BEER) approach to estimate the equilibrium real exchange rate of Renminbi (RMB) and …
Persistent link: https://www.econbiz.de/10008494333
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China and the Global Roles of Currencies
Ryan, John - International Network for Economic Research - INFER - 2009
gaining strength slowly in a turbulent world, on the potential of the Renminbi to become a Reserve Currency, and on the future … the Renminbi in the Asian Financial Crisis in 1997 and its role in the global financial markets at that time and lessons …
Persistent link: https://www.econbiz.de/10008497750