Asset Details
Do you wish to reserve the book?
On China＇s Exchange Rate Flexibility and Stability： The More Flexible against the U.S. Dollar, the More Stable in Effective Terms
Hey, we have placed the reservation for you!
By the way, why not check out events that you can attend while you pick your title.
Oops! Something went wrong.
Looks like we were not able to place the reservation. Kindly try again later.
Are you sure you want to remove the book from the shelf?
On China＇s Exchange Rate Flexibility and Stability： The More Flexible against the U.S. Dollar, the More Stable in Effective Terms
Do you wish to request the book?
On China＇s Exchange Rate Flexibility and Stability： The More Flexible against the U.S. Dollar, the More Stable in Effective Terms
Please be aware that the book you have requested cannot be checked out. If you would like to checkout this book, you can reserve another copy
We have requested the book for you!
Your request is successful and it will be processed during the Library working hours. Please check the status of your request in My Requests.
Oops! Something went wrong.
Looks like we were not able to place your request. Kindly try again later.
Journal Article
On China＇s Exchange Rate Flexibility and Stability： The More Flexible against the U.S. Dollar, the More Stable in Effective Terms
2005
Overview
The Chinese authorities have often emphasized the importance of maintaining the renminbi＇s stable exchange rate without stating explicitly how this stability should be measured. This paper argues that the relevant concept for this stability should be in terms of the rnminbi＇s effective exchange rate, rather than its rate against any particular currency, such as the U. S. dollar. Under the current circumstances where key currencies＇ exchange rates fluctuate freely, if the authorities wish to maintain the stability of the renmnibi＇s effective exchange rate, they would want to let the renminbi＇s exchange rate fluctuate much more against the U. S. dollar than in the past because such fluctuations would greatly reduce the magnitude of the renminbi＇s fluctuations against other key currencies and thus its effective exchange rate. This point has been demonstrated by illustrative figures and by comparing the renminbi＇s hypothetical, greater exchange rate fluctuations with its actual fluctuations.
We currently cannot retrieve any items related to this title. Kindly check back at a later time.