Showing 1 - 10 of 176,341
We document stylized facts about China's recent exchange rate policy for its currency, the renminbi (RMB). Our …
Persistent link: https://www.econbiz.de/10011997655
This study examines the role of the Chinese renminbi (RMB) as an international anchor currency. After China abandoned …'s role reflected China's growing presence in the global economy, even challenging the USD in some of the 155 countries that … RMB's anchor weight in exchange rate policies remains low irrespective of China's global role. Overall, the weight of the …
Persistent link: https://www.econbiz.de/10014519200
This paper shows that signals from the offshore Hong Kong, China spot market for the currency of the People's Republic … of China (PRC), the renminbi (listed as CNH), directly affect the volatility of share prices of PRC banks and the overall …
Persistent link: https://www.econbiz.de/10012137553
We investigate the drivers of daily changes in the exchange value of the Chinese currency (CNY) since early 2016, when a new regime was introduced for setting the fix - the midpoint of the CNY's daily trading range against the U.S. dollar. Daily changes in the fix, which is announced just prior...
Persistent link: https://www.econbiz.de/10011754330
We investigate RMB pricing differentials for onshore and offshore trading. Testing for long memory, we find strong persistence in the pricing differential. Hence, the Chinese FX market in its bipolar structure still lacks basic conditions for perfectly integrated markets.
Persistent link: https://www.econbiz.de/10011847444
The East Asian monetary integration process is at the crossroads. Given very benign liquidity conditions in the US, the prevailing common US dollar peg has contributed to growing macroeconomic and financial instability in the region. This has sparked demands to embark on an independent monetary...
Persistent link: https://www.econbiz.de/10010436724
China has been provoked into speeding renminbi internationalization. But despite rapid growth in offshore financial … could attract even more hot money inflows, the People's Bank of China should focus on tightly stabilizing the yuan/ dollar … exchange rate to encourage naturally high wage increases for balancing China's international competitiveness. …
Persistent link: https://www.econbiz.de/10010249643
euro-dollar rate, whatever the exchange-rate regime of China. Moving to a dynamic, stock-flow framework, we show that the … shock. -- China ; yuan ; exchange-rate regime ; euro ; dollar …
Persistent link: https://www.econbiz.de/10009721995
We employ a threshold vector error correction model approach to investigate the impact of China's exchange rate … impact of post-reform policy interventions by the People's Bank of China (PBoC) on CNY-CNH linkage. We find that, after the …
Persistent link: https://www.econbiz.de/10014383555
In the 1990s, India initiated extensive policy reforms that included the adoption of a flexible exchange rate regime and an acceleration of trade liberalization. This paper analyzes the impact of the policy reforms on exchange rate pass-through into export prices using sectoral panel data (at...
Persistent link: https://www.econbiz.de/10012770854