The author examines China's monetary policy in the light of the sterilization process of the excess liquidity caused by the permanent foreign exchange rate intervention. The tools of the neutralization of the monetary oversupply, its effectiveness and its costs are also investigated. With the...

Who has been in the driving seat promoting internationalization of the Chinese renminbi? Why has this actor been pushing it? How has the project managed to acquire support from other domestic actors? This study addresses these issues, highlighting the leading role of the Chinese central bank in...

Over the past 25 years inflation has moderated considerably in all OECD economies. At the same time, the production of many goods and services has become increasingly internationalised and the level of trade between the OECD and non-OECD economies has risen markedly. This paper investigates the...