Fang, Ying; Huang, Shicheng; Niu, Linlin - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2012
We employ Bayesian method to estimate a time-varying coefficient version of the de facto currency basket model of Frankel and Wei (2007) for the RMB of China, using daily data from February 2005 to July 2011. We estimate jointly the implicit time-varying weights of all 11 currencies in the...
