Obstfeld, Maurice - Institute of Business and Economic Research (IBER), … - 2006
, modernizing, and diverse economy will need exchange rate flexibility and, eventually, convertibility with open capital markets. A … feasible and attractive exit strategy from the essentially fixed RMB exchange rate would be a two-stage approach, consistent … for relieving exchange rate pressures once the RMB/basket rate is allowed to move flexibly within a band, and they are …