Our Behavioural Equilibrium Exchange Rate (BEER) model estimates the real medium-term fair value of G10 currencies using productivity, terms of trades (the price of exports divided by the price of ...
China's merchandise trade surplus surged by $111.7 billion in November, reaching an impressive $1.08 trillion for the first 11 months of the year, a 22.1% increase compared to the same period of last ...
Controlling inflation is a key concern of central bankers around the world. But how best to control inflation differs across countries according to their individual characteristics; for example, small ...
We offer a unifying empirical model of covered and uncovered currency premia, interest rates and spot and forward exchange rates, both in the cross section and time series of currencies. We find that ...
On July 21, 2005, after more than a decade of strictly pegging the renminbi to the U.S. dollar at an exchange rate of 8.28, the People’s Bank of China (PBOC 2005a) announced a revaluation of the ...
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