Showing 1 - 10 of 8,005
euro and the Chinese renminbi (RMB). It focuses on what we call China’s “dominance hypothesis”, i.e. whether the renminbi … global financial crisis. These results are consistent with China’s dominance hypothesis and with the view that the … international monetary system is already tri-polar. However, we also find that China’s currency movements are to some extent …
Persistent link: https://www.econbiz.de/10009367477
appreciating. It is not just China that is resorting to this strategy; other countries have been much more active in bearing down … on the exchange rate. How can the countries in the area maintain the stability of their exchange rates? As China is …
Persistent link: https://www.econbiz.de/10010606898
China. America came in office after its complete affirmation at the end of the Cold War as the only world leader and China …
Persistent link: https://www.econbiz.de/10008773554
usage of the yuan. Finally, it examines the prerequisites of an international currency, and compares China’s structural …
Persistent link: https://www.econbiz.de/10011095517
, the euro and the Chinese renminbi (RMB). It focuses on what we call China’s" dominance hypothesis", i.e. whether the … global financial crisis. These results are consistent with China’s dominance hypothesis and with the view that the … international monetary system is already tri-polar. However, we also find that China’s currency movements are to some extent …
Persistent link: https://www.econbiz.de/10009371469
Argues that the effects of financial liberalization on employment and incomes often carry disturb economic and social development and that financial liberalization warrants at least as much attention as trade liberalization. Compares and weighs the potential benefits in terms of growth against...
Persistent link: https://www.econbiz.de/10010966599
The lack of cooperation between central banks is the most widely accepted interpretation of the collapse of the gold-exchange standard. This explanation does not take account of the evolution of systems of payment: national commodity moneys were progressively replaced by fiduciary money. These...
Persistent link: https://www.econbiz.de/10010991480
This paper argues that SDRs should become a more relevant instrument of international monetary cooperation. This requires transforming them into a pure reserve asset and the IMF into a fully SDR-funded institution. SDRs would then be issued counter-cyclically and treated as deposits of countries...
Persistent link: https://www.econbiz.de/10010852176
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/10010877819
The discussion on exchange rate policy is dominated by the so-called "impossible trinity". In this paper, a strategy of managed floating is developed that allows one to transform the "impossible trinity" into a "possible trinity". If a central bank targets an exchange rate path which is...
Persistent link: https://www.econbiz.de/10010883259