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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 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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Behavior Equilibrium Exchange Rate and Misalignment of Renminbi: A Recent Empirical Study
Chen, Jinzhao - Institut for Miljø og Erhvervsøkonomi, Syddansk … - 2007
of Renminbi (RMB) and the exchange rate misalignment in China, which covers the period from 1994q1 to 2006q2. Using the …
Persistent link: https://www.econbiz.de/10005482025
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Renminbi depreciations and Japan-China commodity trade: do manufactured goods show stronger support for the S-curve?
Bahmani-Oskooee, Mohsen; Hegerty, Scott W.; Xu, Jia - In: International Journal of Public Policy 7 (2011) 4/5/6, pp. 250-264
Because consumer prices and trade quantities tend to exhibit stronger rigidities than do nominal exchange rates, trade balances usually respond to currency appreciations and depreciations only after a time lag. This dynamic adjustment – depicted as correlations between deviations in a...
Persistent link: https://www.econbiz.de/10011130280
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The Role of Offshore Financial Centers in the Process of Renminbi Internationalization
Cheung, Yin-Wong - East Asian Bureau of Economic Research (EABER) - 2014
currency, the renminbi. Historical experience suggests that an active offshore market is essential for a global currency …. Indeed, anecdotal evidence affirms the role of offshore markets in pushing the renminbi currency to the world. One should not … global use of the currency, the overseas acceptance of the renminbi is ultimately determined by both internal and external …
Persistent link: https://www.econbiz.de/10011134339
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Global Implications of the Renminbi’s Ascendance
Prasad, Eswar - East Asian Bureau of Economic Research (EABER) - 2014
flexible exchange rate, the renminbi has attained considerable traction as an international currency on account of the PRCâ … established with other countries’ central banks, the renminbi is also becoming more prominent in international finance. However …, the renminbi is unlikely to become a major reserve currency in the absence of capital account convertibility, a flexible …
Persistent link: https://www.econbiz.de/10011134353
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The Role of Offshore Financial Centers in the Process of Renminbi Internationalization
Cheung, Yin-Wong - East Asian Bureau of Economic Research (EABER) - 2014
currency, the renminbi. Historical experience suggests that an active offshore market is essential for a global currency …. Indeed, anecdotal evidence affirms the role of offshore markets in pushing the renminbi currency to the world. One should not … global use of the currency, the overseas acceptance of the renminbi is ultimately determined by both internal and external …
Persistent link: https://www.econbiz.de/10011134372
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Global Implications of the Renminbi’s Ascendance
Prasad, Eswar - East Asian Bureau of Economic Research (EABER) - 2014
flexible exchange rate, the renminbi has attained considerable traction as an international currency on account of the PRCâ … established with other countries’ central banks, the renminbi is also becoming more prominent in international finance. However …, the renminbi is unlikely to become a major reserve currency in the absence of capital account convertibility, a flexible …
Persistent link: https://www.econbiz.de/10011134386
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Renminbi Internationalisation: A Primer
He, Dong - Volkswirtschaftliche Fakultät, … - 2012
This paper provides a succinct introduction to the internationalisation of the renminbi, a subject of increasing … incentives to hold renminbi-denominated assets and liabilities? How do non-Chinese residents acquire renminbi-denominated assets … and liabilities? Does this not require convertibility of the renminbi under the capital account of the balance of payments …
Persistent link: https://www.econbiz.de/10011109509