Similar Search Results

The Role of the American Dollar and the Prospective Room for the Euro as an Important Intervention and Reserve Currency

Rutkowski, Witold Maksymilian - 2018

mark, Japanese yen, Swiss franc, French franc etc., have been occasionally serving as reserve currencies. The situation …

Persistent link: https://www.econbiz.de/10012938190

De Facto Exchange Rate Regime in Korea : Is it Still a Dollar Peg?

Moon, Han Geun - 2017

the dollar has statistically significantly decreased, but sensitivity to the yen is almost twice as much as those in other … countries. This result might come from the synchronization of Korean won with Japanese yen from November 2000, the change of the …

Persistent link: https://www.econbiz.de/10012942418

China and its Dollar exchange rate : a worldwide stabilizing influence?

McKinnon, Ronald I.; Schnabl, Gunther - 2011

We argue that criticism concerning the Chinese dollar peg is misplaced as no predictable link exists between the exchange rate and the trade balance of an international creditor economy. The stable nominal yuan/dollar rate is argued to have stabilized Chinese, East Asian and global growth....

Persistent link: https://www.econbiz.de/10009127709

The Return to Soft Dollar Pegging in East Asia : Mitigating Conflicted Virtue

McKinnon, Ronald; Schnabl, Gunther - 2005

Before the 1997-1998 crisis, the East Asian economies - except for Japan - informally pegged their currencies to the … dollar. These soft pegs made them vulnerable to a depreciating yen, thereby aggravating the crisis. To limit future … the yen in East Asian currency baskets. However, dollar pegs are entirely rational from the perspective of each Asian …

Persistent link: https://www.econbiz.de/10014063998

Drivers of dollar share in foreign exchange reserves

Goldberg, Linda S.; Hannaoui, Oliver - 2024

The share of U.S. dollar assets in the official foreign exchange reserve portfolios of central banks is sometimes taken as an indicator of dollar status. We show that the observed decline in the aggregate share of U.S. dollar assets does not stem from a systematic shift in currency preferences...

Persistent link: https://www.econbiz.de/10014501124

Simulating Global Rebalancing Using a Yuan Anchor in a Currency Basket with a Four-Country Stock-Flow Consistent Model

Tiou-Tagba Aliti, Gnanonobodom - 2012

The aim of this paper is to examine, using a four-country stock-flow consistent model, how global imbalances may 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...

Persistent link: https://www.econbiz.de/10013110599

Renminbising China's foreign assets

Cheung, Yin-Wong; Ma, Guonan; McCauley, Robert N. - 2010

Since the 2008 global financial crisis, China has rolled out a number of initiatives to actively promote the international role of the renminbi and to denominate more of its international claims away from the US dollar and into the renminbi. This paper discusses the factors shaping the prospects...

Persistent link: https://www.econbiz.de/10003956012

China's dominance hypothesis and the emergence of a tri-polar global currency system

Fratzscher, Marcel; Mehl, Arnaud - 2011

This paper assesses whether the international monetary system is already tripolar and centred around the US dollar, the euro and the Chinese renminbi (RMB). It focuses on what we call China's "dominance hypothesis", i.e. whether the renminbi is already the dominant currency in Asia, exerting a...

Persistent link: https://www.econbiz.de/10009380945

Small Lessons from the Recent Euro-Dollar Skirmishes

Martellato, Dino - 2012

We investigate in this paper the skirmishes that the US dollar and the Euro had from 2007 to 2011 and, in particular, the two distinct sharp falls that the single currency had in 2008 and 2010. We basically consider how impulses coming from domestic money markets impact on the USD/EUR exchange...

Persistent link: https://www.econbiz.de/10013114540

Macroeconomic News and the DM/$ Exchange Rate

Protopapadakis, Aris - 2012

Empirical confirmation that the effect of macroeconomic fundamentals on exchange rates is economically important has been scarce. This paper employs a general GARCH specification with asymmetric responses to investigate the effect of 35 U.S. and German macroeconomic news announcements on the...

Persistent link: https://www.econbiz.de/10013103318