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Current account deficits in the United States (US) and current account surpluses in East Asia are an enduring part of the global economic landscape. They are supported by low saving in the US and by reserve accumulation in Asia. This paper argues that this strategy is causing macroeconomic...
Persistent link: https://www.econbiz.de/10010279816
The way central banks manage their foreign reserve assets has evolved over the past decades. One major trend is managing reserves in two or more tranches-liquidity tranche and investment tranche-especially for those with adequate reserves. Incorporating reserve tranching, we have developed in...
Persistent link: https://www.econbiz.de/10012889141
international role of the renminbi and to denominate more of its international claims away from the US dollar and into the renminbi …. This paper discusses the factors shaping the prospects of internationalising the renminbi from the perspective of the … and management of the renminbi …
Persistent link: https://www.econbiz.de/10013141641
renminbi will eclipse the dollar, what will be the timing of, and the prerequisites for this transition, and which of the two … years traditionally believed. Applying these findings to the current context suggests that the renminbi could become the … – making the reniminbi convertible and opening up its financial system to create deep and liquid markets – to realize renminbi …
Persistent link: https://www.econbiz.de/10013120543
Current account deficits in the United States (US) and current account surpluses in East Asia are an enduring part of the global economic landscape. They are supported by low saving in the US and by reserve accumulation in Asia. This paper argues that this strategy is causing macroeconomic...
Persistent link: https://www.econbiz.de/10013122036
This paper analyzes the consequences of the internationalization of the Chinese renminbi for the global monetary system …
Persistent link: https://www.econbiz.de/10013087068