This paper shows that signals from the offshore Hong Kong, China spot market for the currency of the People’s Republic of China (PRC), the renminbi (listed as CNH), directly affect the volatility of share prices of PRC banks and the overall risks to banking stability in the country. This is...

This paper shows that signals from the offshore Hong Kong, China spot market for the currency of the People's Republic of China (PRC), the renminbi (listed as CNH), directly affect the volatility of share prices of PRC banks and the overall risks to banking stability in the country. This is...

This paper examines the performance of monetary policy rules when the economy finds itself in dark corners, when the real sector experiences a sequence of negative shocks from world demand and while the central bank faces prolonged low world interest rates on its foreign-exchange reserve...

This paper examines the performance of monetary policy rules when the economy finds itself in dark corners. An economic dark corner can occur when the real sector experiences a sequence of negative shocks from world demand, while the central bank faces prolonged low world interest rates on its...