Tiou-Tagba Aliti, Gnanonobodom - 2012
persist or be resolved when a country such as China adopts an exchange rate regime relative to an anchor basket of currencies …. We show that when China pegs its currency to a currency basket composed of the dollar, the euro, and a numeraire currency … representing the ‘rest of the world,' the impact, scale, and transmission of a loss of competitiveness shock on the current account …
