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This paper evaluates the prospects for the renminbi's role as an international currency and the implications for global … exchange rate, the renminbi has attained considerable traction as an international currency on account of the PRC's rising … with other countries' central banks, the renminbi is also becoming more prominent in international finance. However, the …
Persistent link: https://www.econbiz.de/10010260034
This paper evaluates the prospects for the renminbi's role as an international currency and the implications for global … exchange rate, the renminbi has attained considerable traction as an international currency on account of the PRC's rising … with other central banks, the renminbi is also becoming more prominent in international finance. However, the renminbi is …
Persistent link: https://www.econbiz.de/10013056313
We analyze three related but distinct concepts concerning the renminbi's role in the global monetary system: (i … account but with significant administrative and other soft controls. The renminbi will play an increasingly important role in …
Persistent link: https://www.econbiz.de/10010282485
This paper examines two explanations for the recent spate of complaints about cross-border monetary policy spillovers and calls for international monetary policy coordination, a development that contrasts sharply with the monetary system in the 1980s, 1990s and until recently. The first...
Persistent link: https://www.econbiz.de/10013060227
Persistent link: https://www.econbiz.de/10011659802
Persistent link: https://www.econbiz.de/10014317084
The purpose of this paper is to reexamine the exchange rate policy of the Republic of Korea, and its role in promoting financial and monetary cooperation in East Asia in the wake of the 2008 global financial crisis. The Republic of Korea would not actively participate in any discussion of...
Persistent link: https://www.econbiz.de/10013119267
I adapt the framework of Sauzet (2021) to an international setting to characterize the global solution to the international portfolio problem in full generality, a long-standing open issue in international finance. In this two-country, two-good environment, investors have recursive preferences...
Persistent link: https://www.econbiz.de/10013219750
This paper analyses the issues raised by EMU for the relationships between the euro area and the international financial system. The depreciation of the euro exchange rate since the beginning of EMU has attracted most attention. The paper argues that none of the conventional explanations is...
Persistent link: https://www.econbiz.de/10014123552
instead on the potential role of the Chinese renminbi. It becomes increasingly clear that China will assume the role of the … Asian currencies. It is rather unlikely that the renminbi will assume a dominant role immediately but by drawing comparisons …
Persistent link: https://www.econbiz.de/10014101530