Showing 1 - 10 of 197
(GDP) and trade volume, has intensified debate on the potential international role of its currency - the renminbi (RMB …
Persistent link: https://www.econbiz.de/10010397329
For many observers, internationalization is the yuan's manifest destiny - an irresistible by-product of the remarkable economic success of the People's Republic of China (PRC). But is such confidence warranted? Recent history has seen the emergence of other currencies that were also expected, at...
Persistent link: https://www.econbiz.de/10010397217
This paper extends our previous paper (Aizenman, Chinn, and Ito 2008) and explores some of the unexplored questions. First, we examine the channels through which the trilemma policy configurations affect output volatility. Secondly, we investigate how trilemma policy configurations affect the...
Persistent link: https://www.econbiz.de/10013144649
Enormous trade surpluses are problematic for the People's Republic of China (PRC) and the rest of the world. They primarily stem from processing trade. This paper investigates how exchange rate changes would affect the PRC's imports for processing and processed exports. The results indicate that...
Persistent link: https://www.econbiz.de/10010286138
Enormous trade surpluses are problematic for the People's Republic of China (PRC) and the rest of the world. They primarily stem from processing trade. This paper investigates how exchange rate changes would affect the PRC's imports for processing and processed exports. The results indicate that...
Persistent link: https://www.econbiz.de/10013141200
This paper estimated the pass-through effects of yuan's exchange rates on prices of the US and Japanese imports from the People's Republic of China (PRC). Empirical results show that, a 1% nominal appreciation of the yuan would result in a 0.23% increase in prices of the US imports in the short...
Persistent link: https://www.econbiz.de/10010286187
This paper estimated the pass-though effects of yuan's exchange rates on prices of the US and Japanese imports from the People's Republic of China (PRC). Empirical results show that, a 1% nominal appreciation of the yuan would result in a 0.23% increase in prices of the US imports in the short...
Persistent link: https://www.econbiz.de/10013143105
Since the formal launch of the renminbi trade settlement scheme in 2009, renminbi internationalization has made … impressive inroads. The progress in renminbi trade settlement is especially impressive. However, Hong Kong, China's offshore … renminbi deposits failed to make significant progress as expected. The question of how far renminbi internationalization can go …
Persistent link: https://www.econbiz.de/10010397319
As the world's second largest economy, largest trading nation, and the largest foreign holder of United States (US) government bonds, the People's Republic of China (PRC) needs a currency with international status that can match its economic status in the global economy. However, sequencing is...
Persistent link: https://www.econbiz.de/10010397321
Notwithstanding incumbency advantages and network effects enjoyed by the United States (US) dollar, considerations about the stability of its value have led Asian countries to fear they are holding their foreign exchange reserves in a depreciating currency. At the same time, it pays for the...
Persistent link: https://www.econbiz.de/10010286157