constitute long-term appreciation expectations on yuan and yen, which have made China and Japan vulnerable to U.S. interest rate … cuts and appreciation expectation shocks. For both China and Japan - at different points of time - self-fulfilling runs …, speculative bubbles and post-bubble secular stagnation. To prevent a similar scenario for China capital controls, a tighter …

We document stylized facts about China's recent exchange rate policy for its currency, the renminbi (RMB). Our …

"We discuss monetary thought in ancient China from the perspective of Western monetary theory. It sets out the … structure of economic activity in the various dynasties of ancient China and emphasizes the differences in monetary structure … from Europe (and later North America). Imperial China was a politically integrated structure with regional segmentation of …