Alice Y. Ouyang

TL;DR: The authors conducted an empirical investigation to assess the extent of de facto sterilization and capital mobility using monthly data between mid 2000 and late 2008 and found that China has been able to successfully sterilize a large portion of these reserve increases thus making it a reserve sink such as Germany was under the Bretton Wood system.

TL;DR: In this article, the authors focus on the magnitude and sources of reserve accumulation in China and their monetary consequences since the 1990s and conduct an econometric investigation to assess the de facto extent of monetary sterilization by estimating a set of simultaneous equations explicitly derived from an optimizing framework to examine the relationship between net domestic assets and net foreign assets.

TL;DR: This paper used a unified theoretical framework to undertake dynamic estimations of the magnitude of sterilization and offset coefficients (which measure the degree of capital mobility) for a large set of Asian economies and found that despite substantial capital mobility there has been a high degree of effective sterilization to date.

TL;DR: In this paper, the nexus between external debt and export competiveness is examined and it is shown that once external debt exceeds a certain threshold, it is negatively associated with export growth.

TL;DR: The authors decomposes real exchange rate volatility into its two components for a panel of 51 economies over the period 1990-2010, and examines the role of a set of economic fundamentals in explaining the relative contribution of the non-traded component in real exchange price fluctuations.