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The U.S.-China Exchange Rate Debate: Using Currency Offer Curves

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  • Jannett Highfill
  • Raymond Wojcikewych

Abstract

The paper introduces an innovative graph for presenting bilateral exchange rates. The currency quantities are on the axes and the exchange rate is the ratio between them, i.e., the slope of a ray from the origin. Behavior is captured by currency offer curves. The paper uses the model to address the issues surrounding China’s export-led growth strategy, i.e., its policy of undervaluing the yuan. Copyright International Atlantic Economic Society 2011

Suggested Citation

  • Jannett Highfill & Raymond Wojcikewych, 2011. "The U.S.-China Exchange Rate Debate: Using Currency Offer Curves," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 17(4), pages 386-396, November.
    • Handle: RePEc:kap:iaecre:v:17:y:2011:i:4:p:386-396:10.1007/s11294-011-9325-0
    DOI: 10.1007/s11294-011-9325-0
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    References listed on IDEAS

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    1. McKinnon, Ronald & Schnabl, Gunther, 2008. "China's exchange rate impasse and the weak U.S. dollar," Working Papers 73, University of Leipzig, Faculty of Economics and Management Science.
    2. Paul Johnson, 2010. "Targeted Teaching - An International Economics Classroom Experiment," Southern Economic Journal, John Wiley & Sons, vol. 77(2), pages 501-513, October.
    3. David T. Mitchell & Robert P. Rebelein & Patricia H. Schneider & Nicole B. Simpson & Eric Fisher, 2009. "A Classroom Experiment on Exchange Rate Determination with Purchasing Power Parity," The Journal of Economic Education, Taylor & Francis Journals, vol. 40(2), pages 150-165, April.
    4. Dominick Salvatore, 2008. "Structural Imbalances and Global Monetary Stability," Economia politica, Società editrice il Mulino, issue 3, pages 441-454.
    5. Denise Hazlett & Jeela Ganje, 1999. "An Experiment with Official and Parallel Foreign Exchange Markets in a Developing Country," The Journal of Economic Education, Taylor & Francis Journals, vol. 30(4), pages 392-401, December.
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    Cited by:

    1. Lizardo Radhames A. & Kelly Mary H., 2014. "What Motivates China to Invest So Heavily in U.S. Treasury Securities?," Global Economy Journal, De Gruyter, vol. 14(2), pages 215-234, April.
    2. Highfill Jannett & Wojcikewych Raymond, 2012. "A Note on Teaching the Yuan-Dollar Market vis-a-vis China's Dollar Holdings," Global Economy Journal, De Gruyter, vol. 12(1), pages 1-9, March.

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    More about this item

    Keywords

    Exchange rates; China; United States; Export-led growth; A22; F31;
    All these keywords.

    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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