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The Overvaluation of Renminbi Undervaluation

Research, Hong Kong Institute for Monetary and Financial - 2022

This working paper was written by Yin-wong Cheung (University of California, Santa Cruz), Menzie D. Chinn (University of Wisconsin, Madison and NBER) and Eiji Fujii (University of Tsukuba).We evaluate whether the Renminbi (RMB) is misaligned, relying upon conventional statistical methods of...

Persistent link: https://www.econbiz.de/10014048647

Is it Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange Reserves? : The People’s Republic of China’s Answer

Zhang, Bin - 2011

The author calculates the return on the major Asian currency denominated long-term government bonds in terms of a … the PRC's perspective. He shows that it is desirable for the PRC to substitute Asian currency denominated government bonds …

Persistent link: https://www.econbiz.de/10013121023

Is it desirable for Asian economies to hold more Asian assets in their foreign exchange reserves? : the People's Republic of China's answer

Zhang, Bin - 2011

We calculate the return on the major Asian currency denominated long-term government bonds in terms of a basket of the … of Malaysia's government bonds. This result shows that it is desirable for the PRC to substitute Asian currency …

Persistent link: https://www.econbiz.de/10009267685

Currency Value

Menkhoff, Lukas - 2015

We assess the properties of currency value strategies based on real exchange rates in a cross-sectional portfolio … setting. We find that real exchange rates predict currency excess returns, but in a way that is inconsistent with the notion … of currency value because a high valuation level forecasts a relative appreciation of the foreign currency going forward …

Persistent link: https://www.econbiz.de/10013035463

The impact of the Turkish presidential system on the Turkish Lira

Akarsu, Mahmut Zeki - In: Journal of banking and financial economics 1 (2021) 15, pp. 14-24

The political system always has a significant impact on economic indicators. Currency exchange is one of the indicators … of a domestic currency losing value significantly due to undemocratic political actions since the 2017 referendum …

Persistent link: https://www.econbiz.de/10012887831

Currency Value

Menkhoff, Lukas - 2015

Persistent link: https://www.econbiz.de/10013032642

Purchasing Power Parity and Heterogenous Mean Reversion

Koedijk, Kees; Tims, Ben; Dijk, Mathijs A Van - C.E.P.R. Discussion Papers - 2006

This paper analyses the properties of multivariate tests of purchasing power parity (PPP) that fail to take heterogeneity in the speed of mean reversion across real exchange rates into account. We compare the performance of homogeneous and heterogeneous unit root testing methodologies. The...

Persistent link: https://www.econbiz.de/10005792288

Emu and Transatlantic Exchange Rate Stability

Mojon, Benoît; Bénassy-Quéré, Agnès - 2000

The impact of EMU on the transatlantic exchange rate stability raises the more general question of whether the exchange rate is a useful adjustment instrument or source of instability. We estimate a simple, three-country model for the United States, Germany and France, over the 1972-1995 period....

Persistent link: https://www.econbiz.de/10014181129

Impacts of Real Effective Exchange Rate on Sudan Macroeconomic Variables

Mohamed, Issam A.W; Hamza, Hamza - 2012

. Hence, devaluation of currency as a whole does not seem to be beneficial for Sudan exports. That is because the country …

Persistent link: https://www.econbiz.de/10014041198

A New Approach to the Estimation of Equilibrium Real Exchange Rates among East-Asian Economies

Research, Hong Kong Institute for Monetary and Financial - 2022

This working paper was written by Juan Carlos Martinez Oliva (Bank of Italy).In view of the debate on exchange rate stabilization in Asia, this paper introduces a new and original approach to the determination of equilibrium real exchange rates (ERER) across ASEAN+3. Existing literature usually...

Persistent link: https://www.econbiz.de/10014048640