Currencies and Globalization
Currencies are often the targets of speculators and the sometimes reflections and engines of a country's prosperity. They affect consumption rates, political stability and industrial success. Exchange rates are carefully set and endlessly analysed and changed. This book presents leading contemporary issues related to currencies and globalisation.
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Chinas Currency Peg A Summary of the Economic Issues
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Chinas Currency A Summary of the Economic Issues
Arbitrage in Foreign Exchange Markets within the Context of a Transactional Algebra
Responsiveness to External Developments through the Trade channel New Estimates for the Euro Area
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aggregate demand anticipated and unanticipated Apreda bilateral trade billion capital changes China China's currency peg Chinese exports Chinese officials cointegration common currency Consumer Sentiment Index countries currency union current account decreases deficit with China depreciation disposable income dollar appreciation domestic durable economic effective exchange rate empirical model employment growth energy price equation equilibrium estimates euro area evidence fixed exchange rate floating exchange rate fluctuations foreign currency government spending impact increase investment July 21 lags long-run manipulation monetary money supply negative Nominal Interest Rate output positive private consumption R-square Real Consumption Real Disposable Income real effective exchange real exchange rate reform renminbi revaluation sector shifts shocks statistically significant Table trade balance trade flows transaction costs transactional algebra U.S. assets U.S. dollar U.S. economy U.S. exports U.S. manufacturing U.S. products U.S. trade deficit U.S. Treasury undervalued yuan United variables
Page 2 - States, but the Chinese, with concerns about their own economy, have been reluctant to alter the peg. US CONCERNS ABOUT CHINA'S CURRENCY PEG Many US policymakers and business and labor representatives have charged that China's currency is significantly undervalued vis-a-vis the US dollar by as much as 40%, making Chinese exports to the United States cheaper, and US exports to China more expensive, than they would be if exchange rates were determined by market forces. They further argue that the undervalued...