SUN, WEI; AN, LIAN - In: The Singapore Economic Review (SER) 57 (2012) 01, pp. 1250003-1
This paper assesses China's Renminbi peg to the U.S. dollar using a structural VAR model. One unique contribution of the paper is that we model China as a large open economy in one structural VAR model with the U.S. by utilizing combinations of short- and long-run identification restrictions and...