Kawai, Masahiro; Pontines, Victor - Asian Development Bank Institute, Asian Development Bank - 2014
This paper examines whether the renminbi (RMB) has supplanted the US dollar as the major anchor currency in the … severe multicollinearity in estimations of the Frankel¬–Wei regression model, with the movements in both the RMB and the US … proposes a simple modification of the Frankel–Wei regression model to estimate the RMB weight in an economy’s currency basket …