The Undisclosed Renminbi Basket : Are the Markets Telling Us Something About Where the Renminbi-US Dollar Exchange Rate is Going?

On 21 July 2005 China adopted an undisclosed basket exchange rate regime. We formally assess and envisage the gradual evolution of the renminbi over time. We utilize nonlinear dependencies in the renminbi exchange rate and describe the smooth transition of the renminbi/U.S. dollar (RMB/USD) exchange rate using the family of time-varying autoregressive (TV-AR) models. Specifically, the nonlinear models allow for a smooth transition from one optimal level to another. Our estimation results imply that the RMB/USD exchange rate will likely be about 7.10 RMB/USD in summer/autumn 2009

MoreLess

Year of publication:	[2013]
Authors:	Funke, Michael
Other Persons:	Gronwald, Marc (contributor)
Publisher:	[2013]: [S.l.] : SSRN
Subject:	Wechselkurs \| Exchange rate \| USA \| United States \| Wechselkurssystem \| Exchange rate regime \| Währungskorb \| Currency basket \| ARCH-Modell \| ARCH model \| China \| Renminbi \| Autokorrelation \| Autocorrelation

freely available

Full text |

More access options

doi.org

Check Google Scholar

In German libraries (KVK)

I need help

Extent:	1 Online-Ressource (24 p)
Series:	CESifo Working Paper Series ; No. 2272
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 2008 erstellt
Other identifiers:	10.2139/ssrn.1117883 [DOI]
Classification:	C22 - Time-Series Models ; F31 - Foreign Exchange ; F37 - International Finance Forecasting and Simulation
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012753619