WebInternational Creditors under the World Dollar Standard: Japan’s Liquidity Trap Redux Ronald I. McKinnon (Stanford) Rishi Goyal (IMF) Thesis: Conflicted Virtue Creditor economies with: history of current account surpluses and build up of liquid foreign currency claims could face deflation and a liquidity trap Obvious example: Japan However, China … WebAmerican pressure on China today to appreciate the renminbi is eerily similar to American pressure on Japan that began almost 30 years ago to appreciate the yen against the …
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WebMcKinnon, Ronald (2006). “China’s Exchange Rate Trap: Japan Redux?” American Economic Review, Papers and Proceedings 96:2 (May), 427–431. CrossRef Google Scholar Meltzer, Allan H. (2003). A History of the Federal Reserve. Volume 1, 1913–51. Chicago: University of Chicago Press. Google Scholar WebAug 1, 2013 · McKinnon, R . 2006: China’s exchange rate trap: Japan redux? The American Economic Review 96 (2): 427–431. Article Google Scholar McMillan, MS and Rodrik, D . 2011: Globalization, structural change and productivity growth. NBER Working paper no. 17143, Cambridge. Mills, TC, Pelloni, G and Zervoyianni, A . 1996: Cyclical … chinas longest continuity
CiteSeerX — China’s Exchange Rate Trap: Japan Redux?
WebChina’s Exchange Rate Trap: Japan Redux? American Economic Association Papers and Proceedings, 427-451. Pointines, V., 2009. Optimal common currency basket in East Asia, Applied Economics Letters 16, 1139 – 1141. PBOC (The People’s Bank of China), 2005. Public Announcement of the People´s Bank of China on Reforming the RMB Exchange … WebAmerican pressure on China today to appreciate the renminbi is eerily similar to American pressure on Japan that began almost 30 years ago to appreciate the yen against the dollar. There are some differences between the two cases, but downward pressure on interest rates from foreign exchange risk could lead China into a zero-interest liquidity ... WebExchange Rate Dynamics Redux Maurice Obstfeld , and Kenneth Rogoff PDF PDF PLUS Abstract Abstract We develop an analytically tractable two-country model that marries a full account of global macroeconomic dynamics to a supply framework based on monopolistic competition and sticky nominal prices. grammar use of its