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dc.contributor.authorFunke, Michaelen_US
dc.contributor.authorGronwald, Marcen_US
dc.date.accessioned2008-04-11en_US
dc.date.accessioned2009-07-28T08:30:23Z-
dc.date.available2009-07-28T08:30:23Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/26317-
dc.description.abstractOn 21 July 2005 China adopted an undisclosed basket exchange rate regime. We formally assess and envisage the gradual evolution of the renminbi over time. We utilize nonlinear dependencies in the renminbi exchange rate and describe the smooth transition of the renminbi/U.S. dollar (RMB/USD) exchange rate using the family of time-varying autoregressive (TV-AR) models. Specifically, the nonlinear models allow for a smooth transition from one optimal level to another. Our estimation results imply that the RMB/USD exchange rate will likely be about 7.10 RMB/USD in summer/autumn 2009.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper 2272en_US
dc.subject.jelC22en_US
dc.subject.jelF31en_US
dc.subject.jelF37en_US
dc.subject.ddc330en_US
dc.subject.keywordChinaen_US
dc.subject.keywordrenminbien_US
dc.subject.keywordde facto exchange rate regimeen_US
dc.subject.keywordTV-AR modelen_US
dc.subject.keywordTV-AR-GARCH modelen_US
dc.subject.stwWechselkursen_US
dc.subject.stwWechselkurssystemen_US
dc.subject.stwWährungskorben_US
dc.subject.stwAutokorrelationen_US
dc.subject.stwARCH-Modellen_US
dc.subject.stwChinaen_US
dc.subject.stwUSAen_US
dc.titleThe undisclosed renminbi basket: are the markets telling us something about where the renminbi - US dollar exchange rate is going?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn561445001en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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