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The RMB's global role as an anchor currency : no evidence

Heimonen, Kari; Rönkkö, Risto - 2024

This study examines the role of the Chinese renminbi (RMB) as an international anchor currency. After China abandoned its tight US dollar (USD) peg in 2005, the RMB found greater popularity as a reserve currency. This change in the RMB's role reflected China's growing presence in the global...

Persistent link: https://www.econbiz.de/10014519200

Can a Rapidly-Growing Export-Oriented Economy Smoothly Exit an Exchange Rate Peg? Lessons for China from Japan's High-Growth Era

Eichengreen, Barry; Hatase, Mariko - 2022

We explore the parallels between Japanese currency policy after World War II and Chinese currency policy today. After two decades of pegging at 360 yen, Japan decoupled from the dollar on August 1971 and then repegged at a revalued rate of 308 yen. After stabilizing the exchange rate at this new...

Persistent link: https://www.econbiz.de/10013324585

Dynamic effect of a change in the exchange rate system : from a fixed regime to a basket-peg or a floating regime

Yoshino, Naoyuki; Kaji, Sahoko; Asonuma, Tamon - 2015

This paper theoretically evaluates the dynamic effects of a shift in an exchange rate system from a fixed regime to a basket peg, or to a floating regime, and obtains transition paths for the shift based on a dynamic stochastic general equilibrium model of a small open economy. We apply...

Persistent link: https://www.econbiz.de/10010488975

The exchange rate system reform in China : US pressure, implicit gradual appreciation and explicit exchange rate bands

Yip, Paul S. L.; Tse, Yiu Kuen; Dong, Yingjie - 2017

Persistent link: https://www.econbiz.de/10011809560

Can a Rapidly-Growing Export-Oriented Economy Smoothly Exit an Exchange Rate Peg? Lessons for China from Japan's High-Growth Era

Eichengreen, Barry - 2005

For China this suggests starting with a modest band widening and a limited increase in flexibility, and not with a large step revaluation which could have a sharp negative impact on investment and growth. Our results thus provide support for the kind of measures taken at the end of July

Persistent link: https://www.econbiz.de/10012467052

Impact of exchange rate management on bilateral trade between USA and China

Jain, Monika - In: The empirical economics letters : a monthly … 19 (2020) 6, pp. 613-622

Persistent link: https://www.econbiz.de/10012596694

Changing anchor of the renminbi : a Bayesian learning approach to the decade-long transition

Zhang, Chen; Fang, Ying; Niu, Linlin - In: Economic modelling 116 (2022), pp. 1-9

Persistent link: https://www.econbiz.de/10014512596

FDI in China : a sovereign money perspective

Liu, Xinhua - In: From crisis to growth? : the challenge of debt and …, (pp. 213-230). 2012

Persistent link: https://www.econbiz.de/10009628090

Determination of renminbi equilibrium exchange rate, misalignment, and official intervention

Yue, Liu Hai; Jiang, Qiang; Tang, Yingkai - In: Emerging markets finance & trade : a journal of the … 52 (2016) 1/3, pp. 420-433

Persistent link: https://www.econbiz.de/10011562470

Exchange Rate Policy and the Relative Distribution of FDI Among Host Countries

Xing, Yuqing - 2007

This paper examines the FDI-exchange rate nexus in the context of one FDI source and two host countries. It focuses on … the effect of exchange rates on relative FDI inflows between the two host countries. The theoretical analysis shows … explicitly that relative FDI inflows are a function of relative real exchange rates. In particular, if one host country devalues …

Persistent link: https://www.econbiz.de/10012729600