Retrospect of the Chinese Exchange Rate Regime after Reform: Stylized Facts during the Period from 2005 to 2010
Author
Abstract
Suggested Citation
DOI: 10.1111/j.1749-124X.2010.01218.x
Download full text from publisher
References listed on IDEAS
- Ogawa, Eiji & Ito, Takatoshi, 2002.
"On the Desirability of a Regional Basket Currency Arrangement,"
Journal of the Japanese and International Economies, Elsevier, vol. 16(3), pages 317-334, September.
- Eiji Ogawa & Takatoshi Ito, 2000. "On the Desirability of a Regional Basket Currency Arrangement," NBER Working Papers 8002, National Bureau of Economic Research, Inc.
- Jeffrey Frankel & Daniel Xie, 2010.
"Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes,"
American Economic Review, American Economic Association, vol. 100(2), pages 568-572, May.
- Jeffrey A. Frankel & Daniel Xie, 2009. "Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes," NBER Working Papers 15620, National Bureau of Economic Research, Inc.
- Frankel, Jeffrey A. & Xie, Daniel, 2010. "Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes," Scholarly Articles 4454158, Harvard Kennedy School of Government.
- Jeffrey Frankel & Daniel, 2010. "Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes," Working Paper Series WP10-1, Peterson Institute for International Economics.
- Frankel, Jeffrey & Xie, Daniel, 2010. "Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes," Working Paper Series rwp10-003, Harvard University, John F. Kennedy School of Government.
- Jeffrey Frankel & Shang-Jin Wei, 2008.
"Estimation of De Facto Exchange Rate Regimes: Synthesis of the Techniques for Inferring Flexibility and Basket Weights,"
IMF Staff Papers, Palgrave Macmillan, vol. 55(3), pages 384-416, July.
- Frankel, Jeffrey & Wei, Shang-Jin, 2008. "Estimation of De Facto Exchange Rate Regimes: Synthesis of The Techniques for Inferring Flexibility and Basket Weights," Working Paper Series rwp08-026, Harvard University, John F. Kennedy School of Government.
- Jeffrey A. Frankel & Shang-Jin Wei, 2008. "Estimation of De Facto Exchange Rate Regimes: Synthesis of the Techniques for Inferring Flexibility and Basket Weights," NBER Working Papers 14016, National Bureau of Economic Research, Inc.
- Jeffrey Frankel & Shang-Jin Wei, 2008. "Estimation of De Facto Exchange Rate Regimes: Synthesis of the Techniques for Inferring Flexibility and Basket Weights," CID Working Papers 157, Center for International Development at Harvard University.
- Stavarek, Daniel, 2007. "Comparative analysis of the exchange market pressure in Central European countries with the Eurozone membership perspective," MPRA Paper 3906, University Library of Munich, Germany.
- Boyer, Russell S, 1978. "Optimal Foreign Exchange Market Intervention," Journal of Political Economy, University of Chicago Press, vol. 86(6), pages 1045-1055, December.
- Jeffrey D. Sachs & Aaron Tornell & Andrés Velasco, 1996.
"Financial Crises in Emerging Markets: The Lessons from 1995,"
Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 27(1), pages 147-216.
- Jeffrey Sachs & Aaron Tornell & Andres Velasco, 1996. "Financial Crises in Emerging Markets: The Lessons from 1995," NBER Working Papers 5576, National Bureau of Economic Research, Inc.
- Jeffrey Sachs & Aaron Tornell & Andres Velasco, 1996. "Financial Crises in Emerging Markets: The Lessons from 1995," Harvard Institute of Economic Research Working Papers 1759, Harvard - Institute of Economic Research.
- Weymark, Diana N, 1997. "Measuring the degree of exchange market intervention in a small open economy," Journal of International Money and Finance, Elsevier, vol. 16(1), pages 55-79, February.
- John Williamson, 1996. "Crawling Band as an Exchange Rate Regime: Lessons from Chile, Colombia and Israel, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 14, April.
- ITO Takatoshi & KOIBUCHI Satoshi & SATO Kiyotaka & SHIMIZU Junko, 2009. "Determinants of Currency Invoicing in Japanese Exports: A firm-level analysis (Japanese)," Discussion Papers (Japanese) 09013, Research Institute of Economy, Trade and Industry (RIETI).
- Ronald McKinnon & Gunther Schnabl, 2006.
"The East Asian Dollar Standard, Fear of Floating, and Original Sin,"
Chapters, in: Volbert Alexander & Hans-Helmut Kotz (ed.), Global Divergence in Trade, Money and Policy, chapter 3, pages 45-71,
Edward Elgar Publishing.
- Ronald McKinnon & Gunther Schnabl, 2004. "The East Asian Dollar Standard, Fear of Floating, and Original Sin," Review of Development Economics, Wiley Blackwell, vol. 8(3), pages 331-360, August.
- Ronald McKinnon & Gunther Schnabl, 2003. "The East Asian Dollar Standard, Fear of Floating, and Original Sin," Working Papers 03001, Stanford University, Department of Economics.
- Ronald McKinnon & Gunther Schnabl, 2003. "The East Asian Dollar Standard, Fear of Floating, and Original Sin," Working Papers 112003, Hong Kong Institute for Monetary Research.
- Jeffrey A. Frankel, 2009.
"New Estimation Of China'S Exchange Rate Regime,"
Pacific Economic Review, Wiley Blackwell, vol. 14(3), pages 346-360, August.
- Frankel, Jeffrey, 2008. "New Estimation of China's Exchange Rate Regime," Working Paper Series rwp08-077, Harvard University, John F. Kennedy School of Government.
- Jeffrey A. Frankel, 2009. "New Estimation of China's Exchange Rate Regime," NBER Working Papers 14700, National Bureau of Economic Research, Inc.
- Imad A. Moosa, 2008. "Forecasting the Chinese Yuan-US Dollar Exchange Rate under the New Chinese Exchange Rate Regime," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 7(1), pages 23-35, April.
- Gunther Schnabl, 2006. "The Evolution of the East Asian Currency Baskets – Still Undisclosed and Changing," CESifo Working Paper Series 1873, CESifo.
- Eiji Ogawa & Michiru Sakane, 2006. "The Chinese Yuan after the Chinese Exchange Rate System Reform," Discussion papers 06019, Research Institute of Economy, Trade and Industry (RIETI).
- Eiji Ogawa & Michiru Sakane, 2006. "Chinese Yuan after Chinese Exchange Rate System Reform," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 14(6), pages 39-57, November.
- Don E. Roper & Stephen J. Turnovsky, 1980. "Optimal Exchange Market Intervention in a Simple Stochastic Macro Model," Canadian Journal of Economics, Canadian Economics Association, vol. 13(2), pages 296-309, May.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Yin-Wong Cheung & Cho-Hoi Hui & Andrew Tsang, 2016.
"The Renminbi Central Parity: An Empirical Investigation,"
CESifo Working Paper Series
5963, CESifo.
- Yin-Wong Cheung & Cho-Hoi Hui & Andrew Tsang, 2016. "The Renminbi Central Parity: An Empirical Investigation," Working Papers 102016, Hong Kong Institute for Monetary Research.
- Cheung, Yin-Wong & Hui, Cho-Hoi & Tsang, Andrew, 2017. "The Renminbi central parity: An empirical investigation," BOFIT Discussion Papers 7/2017, Bank of Finland Institute for Emerging Economies (BOFIT).
- Kristina Spantig, 2015. "International monetary policy spillovers—can the RMB and the euro challenge the hegemony of the US dollar?," Asia Europe Journal, Springer, vol. 13(4), pages 459-478, December.
- Zaichao Du & Jie Li & Pei Pei, 2021. "The impacts of China’s exchange rate regime reform in 2005: A counterfactual analysis," Review of Development Economics, Wiley Blackwell, vol. 25(1), pages 430-448, February.
- Dmitry Alexandrovich Izotov, 2012. "Russian – Chinese Trade and Exchange Rate," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 3, pages 34-54.
- Meixing Dai, 2013.
"In search of an optimal strategy for yuan’s real revaluation,"
Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 11(1), pages 29-46, February.
- Dai, Meixing, 2012. "In Search of an Optimal Strategy for Yuan’s Real Revaluation," MPRA Paper 41047, University Library of Munich, Germany.
- Tian, Lei & Chen, Langnan, 2013. "A reinvestigation of the new RMB exchange rate regime," China Economic Review, Elsevier, vol. 24(C), pages 16-25.
- Kristina Spantig, 2012. "International monetary policy spillovers in an asymmetric world monetary system - The United States and China," Global Financial Markets Working Paper Series 2012-33, Friedrich-Schiller-University Jena.
- Cheung, Yin-Wong & Hui, Cho-Hoi & Tsang, Andrew, 2018.
"The RMB central parity formation mechanism: August 2015 to December 2016,"
Journal of International Money and Finance, Elsevier, vol. 86(C), pages 223-243.
- Yin-Wong Cheung & Cho-Hoi Hui & Andrew Tsang, 2018. "The RMB Central Parity Formation Mechanism: August 2015 to December 2016," GRU Working Paper Series GRU_2018_010, City University of Hong Kong, Department of Economics and Finance, Global Research Unit.
- Tsuchiya, Yoichi, 2016. "Asymmetric loss and rationality of Chinese renminbi forecasts: An implication for the trade between China and the US," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 44(C), pages 116-127.
- Meixing Dai, 2011.
"Motivations and strategies for a real revaluation of the Yuan,"
Working Papers of BETA
2011-23, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
- Dai, Meixing, 2011. "Motivations and strategies for a real revaluation of the Yuan," MPRA Paper 30440, University Library of Munich, Germany.
- Yin-Wong Cheung & Cho-Hoi Hui & Andrew Tsang, 2016.
"The Renminbi Central Parity: An Empirical Investigation,"
Working Papers
102016, Hong Kong Institute for Monetary Research.
- Cheung, Yin-Wong & Hui, Cho-Hoi & Tsang, Andrew, 2017. "The Renminbi central parity : An empirical investigation," BOFIT Discussion Papers 7/2017, Bank of Finland, Institute for Economies in Transition.
- Yin-Wong Cheung & Cho-Hoi Hui & Andrew Tsang, 2016. "The Renminbi Central Parity: An Empirical Investigation," CESifo Working Paper Series 5963, CESifo.
- Yin-Wong Cheung & Cho-Hoi Hui & Andrew Tsang, 2017. "The RMB Central Parity Formation Mechanism after August 2015: A Statistical Analysis," Working Papers 062017, Hong Kong Institute for Monetary Research.
- Urban J. Jermann & Bin Wei & Vivian Z. Yue, 2022.
"The Two‐Pillar Policy for the RMB,"
Journal of Finance, American Finance Association, vol. 77(6), pages 3093-3140, December.
- Urban J. Jermann & Bin Wei & Vivian Z. Yue, 2019. "The Two-Pillar Policy for the RMB," FRB Atlanta Working Paper 2019-8, Federal Reserve Bank of Atlanta.
- repec:zbw:bofitp:2017_007 is not listed on IDEAS
- Guanyu Su & Junhui Qian, 2021. "Structural Changes in the Renminbi Exchange Rate Mechanism," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 29(2), pages 1-23, March.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Jeffrey Frankel, 2021.
"Systematic Managed Floating,"
World Scientific Book Chapters, in: Steven J Davis & Edward S Robinson & Bernard Yeung (ed.), THE ASIAN MONETARY POLICY FORUM Insights for Central Banking, chapter 5, pages 160-221,
World Scientific Publishing Co. Pte. Ltd..
- Jeffrey Frankel, 2019. "Systematic Managed Floating," Open Economies Review, Springer, vol. 30(2), pages 255-295, April.
- Jeffrey A. Frankel, 2017. "Systematic Managed Floating," NBER Working Papers 23663, National Bureau of Economic Research, Inc.
- Frankel, Jeffrey, 2017. "Systematic Managed Floating," Working Paper Series rwp17-025, Harvard University, John F. Kennedy School of Government.
- Xiaohui Liu & Jing Zhang, 2009. "RMB Exchange Market Pressure and Central Bank Exchange Market Intervention," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 17(3), pages 75-92, May.
- Vitalie Ciubotaru, 2012. "Identifying the De Facto Exchange Rate Regime for Moldova: A State-Space Approach," Discussion Papers in Economics and Business 12-10, Osaka University, Graduate School of Economics.
- Fang, Ying & Huang, Shicheng & Niu, Linlin, 2012.
"De facto currency baskets of China and East Asian economies: The rising weights,"
BOFIT Discussion Papers
2/2012, Bank of Finland Institute for Emerging Economies (BOFIT).
- Ying Fang & Shicheng Huang & Linlin Niu, 2013. "De Facto Currency Baskets of China and East Asian Economies: The Rising Weights," Working Papers 2013-10-14, Wang Yanan Institute for Studies in Economics (WISE), Xiamen University.
- repec:zbw:bofitp:2012_002 is not listed on IDEAS
- Robert Dixon & Zhichao Zhang & Yang Dai, 2016. "Exchange Rate Flexibility in China: Measurement, Regime Shifts and Driving Forces of Change," Review of International Economics, Wiley Blackwell, vol. 24(5), pages 875-892, November.
- Fang, Ying & Huang, Shicheng & Niu, Linlin, 2012.
"De facto currency baskets of China and East Asian economies : The rising weights,"
BOFIT Discussion Papers
2/2012, Bank of Finland, Institute for Economies in Transition.
- Ying Fang & Shicheng Huang & Linlin Niu, 2013. "De Facto Currency Baskets of China and East Asian Economies: The Rising Weights," Working Papers 2013-10-14, Wang Yanan Institute for Studies in Economics (WISE), Xiamen University.
- Tian, Lei & Chen, Langnan, 2013. "A reinvestigation of the new RMB exchange rate regime," China Economic Review, Elsevier, vol. 24(C), pages 16-25.
- Jarko Fidrmuc, 2010.
"Time-Varying Exchange Rate Basket in China from 2005 to 2009,"
Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 52(4), pages 515-529, December.
- Jarko Fidrmuc, 2010. "Time-Varying Exchange Rate Basket in China from 2005 to 2009," CESifo Working Paper Series 3147, CESifo.
- Frankel, Jeffrey, 2010. "Monetary Policy in Emerging Markets," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 25, pages 1439-1520, Elsevier.
- Thomas Willett & Eric M.P. Chiu & Sirathorn (B.J.) Dechsakulthorn & Ramya Ghosh & Bernard Kibesse & Kenneth Kim & Jeff (Yongbok) Kim & Alice Ouyang, 2011. "Classifying international aspects of currency regimes," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 3(4), pages 288-303, November.
- Ethan Ilzetzki & Carmen M Reinhart & Kenneth S Rogoff, 2019.
"Exchange Arrangements Entering the Twenty-First Century: Which Anchor will Hold?,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 134(2), pages 599-646.
- Ilzetzki, Ethan & Reinhart, Carmen & Rogoff, Kenneth, 2017. "Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?," CEPR Discussion Papers 11826, C.E.P.R. Discussion Papers.
- Ethan Ilzetzki & Carmen M. Reinhart & Kenneth S. Rogoff, 2017. "Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?," Working Paper 503441, Harvard University OpenScholar.
- Ethan Ilzetzki & Carmen M. Reinhart & Kenneth S. Rogoff, 2017. "Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?," NBER Working Papers 23134, National Bureau of Economic Research, Inc.
- Zhang, Zhichao & Shi, Nan & Zhang, Xiaoli, 2011. "China’s new exchange rate regime, optimal basket currency and currency diversification," MPRA Paper 32642, University Library of Munich, Germany.
- Jeffrey Frankel & Daniel Xie, 2010.
"Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes,"
American Economic Review, American Economic Association, vol. 100(2), pages 568-572, May.
- Jeffrey A. Frankel & Daniel Xie, 2009. "Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes," NBER Working Papers 15620, National Bureau of Economic Research, Inc.
- Frankel, Jeffrey A. & Xie, Daniel, 2010. "Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes," Scholarly Articles 4454158, Harvard Kennedy School of Government.
- Jeffrey Frankel & Daniel, 2010. "Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes," Working Paper Series WP10-1, Peterson Institute for International Economics.
- Frankel, Jeffrey & Xie, Daniel, 2010. "Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes," Working Paper Series rwp10-003, Harvard University, John F. Kennedy School of Government.
- OGAWA Eiji & YOSHIMI Taiyo, 2009. "Analysis on β and σ Convergences of East Asian Currencies," Discussion papers 09018, Research Institute of Economy, Trade and Industry (RIETI).
- Ogawa, Eiji & Kudo, Takeshi, 2007. "Asymmetric responses of East Asian currencies to the US dollar depreciation for reducing the US current account deficits," Journal of Asian Economics, Elsevier, vol. 18(1), pages 175-194, February.
- Stavarek Daniel, 2008.
"Exchange Market Pressure in Central European Countries from the Eurozone Membership Perspective,"
South East European Journal of Economics and Business, Sciendo, vol. 3(2), pages 7-18, November.
- Stavarek, Daniel, 2008. "Exchange Market Pressure in Central European Countries from the Eurozone Membership Perspective," MPRA Paper 12079, University Library of Munich, Germany.
- Klaassen, Franc & Jager, Henk, 2011. "Definition-consistent measurement of exchange market pressure," Journal of International Money and Finance, Elsevier, vol. 30(1), pages 74-95, February.
- Eiji Ogawa & Kentaro Kawasaki, 2008.
"Adopting a Common Currency Basket Arrangement into the ASEAN Plus Three,"
NBER Chapters, in: International Financial Issues in the Pacific Rim: Global Imbalances, Financial Liberalization, and Exchange Rate Policy, pages 219-237,
National Bureau of Economic Research, Inc.
- Eiji Ogawa & Kentaro Kawasaki, 2006. "Adopting a common currency basket arrangement into the 'ASEAN plus three'," Discussion papers 06028, Research Institute of Economy, Trade and Industry (RIETI).
- Ouyang, Alice Y. & Rajan, Ramkishen S. & Willett, Thomas D., 2010.
"China as a reserve sink: The evidence from offset and sterilization coefficients,"
Journal of International Money and Finance, Elsevier, vol. 29(5), pages 951-972, September.
- Alice Y. Ouyang & Ramkishen S. Rajan & Thomas D. Willett, 2007. "China as a Reserve Sink: The Evidence from Offset and Sterilization Coefficients," Working Papers 102007, Hong Kong Institute for Monetary Research.
- Eiji Ogawa, 2011. "Currency Baskets for East Asia," Chapters, in: Ulrich Volz (ed.), Regional Integration, Economic Development and Global Governance, chapter 14, Edward Elgar Publishing.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:chinae:v:18:y:2010:i:6:p:19-35. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/iwepacn.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.