Journal ArticleDOI
China's Exchange Rate Policy Dilemma
TLDR
The authors summarizes key aspects of China's exchange rate policy, outlines the problems it creates for both China and the global economy, and proposes a feasible policy compromise, and summarizes the problems of exchange rate policies.Abstract:
This paper summarizes key aspects of China’s exchange rate policy, outlines the problems it creates for both China and the global economy, and proposes a feasible policy compromise.read more
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The role of oil price shocks on China's real exchange rate
Ying Sophie Huang,Feng Guo +1 more
TL;DR: In this paper, the authors investigated to what extent the oil price shock and three other types of underlying macroeconomic shocks impact the trend movements of China's real exchange rate, and found that real oil price shocks would lead to a minor appreciation of the long-term real currency due to China's lesser dependence on imported oil than its trading partners.
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Income inequality as a cause of the Great Recession? A survey of current debates
Till van Treeck,Simon Sturn +1 more
TL;DR: In this paper, the effects of inequality on household behaviour are investigated. But the authors focus on the U.S. financial crisis caused by income inequality and not on the underlying structural factors.
Journal ArticleDOI
How robust are estimates of equilibrium real exchange rates: the case of china
TL;DR: This article showed that small changes in model specifications, explanatory variable definitions, and time periods used in estimation can lead to very substantial differences in equilibrium real exchange rate estimates, and that such estimates should be treated with great caution.
Estimates of the Equilibrium Exchange Rate of the Renminbi: Is There a Consensus and, If Not, Why Not?
William R. Cline,John Williamson +1 more
TL;DR: The answer to the first of the two questions addressed to us is clearly “No.” The 18 studies summarized in Table 1 reveal widely differing answers being offered in the literature, even sticking to post-2000 estimates, and even when one recognizes (as not everyone has done) that an effective exchange rate is a totally different creature from a bilateral dollar exchange rate as discussed by the authors.
Journal ArticleDOI
International trade and carbon emissions: The role of Chinese institutional and policy reforms.
TL;DR: The results show that trade liberalization, weak environmental institutions, exchange rate policy, and legal and property rights affect emissions, and the lack of reform in the utilities sector is an important factor in the rapid increase in embodied emissions.
References
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Journal ArticleDOI
The revived bretton woods system
TL;DR: The authors argue that the normal evolution of the international monetary system involves the emergence of a periphery for which the development strategy is export-led growth supported by undervalued exchange rates, capital controls and official capital outflows in the form of accumulation of reserve asset claims on the centre country.
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Adjusting China's Exchange Rate Policies
TL;DR: In this article, the authors argue that the RMB is significantly undervalued and that China has been "manipulating" its currency, contrary to the IMF rules of the game.
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Rebalancing Growth in China: A Three-Handed Approach
TL;DR: In this article, the authors define the contours of the right macroeconomic strategy for China, which includes a decrease in saving, with a focus on private saving, an increase in the supply of services, in particular health services, and an appreciation of the RMB.
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Exchange Rate and Monetary Policy in China
TL;DR: For example, this article showed that the real trade-weighted value of the Chinese currency has declined since the beginning of 2002 when the value of U.S. dollar reached a peak and the positive effect of this depreciation on the trade balance occurs with a lag.
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An Essay on the Revived Bretton Woods System
TL;DR: The authors argue that the normal evolution of the international monetary system involves the emergence of a periphery for which the development strategy is export-led growth supported by undervalued exchange rates, capital controls and official capital outflows in the form of accumulation of reserve asset claims on the center country.