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http://hdl.handle.net/10419/39842
  

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dc.contributor.authorFidrmuc, Jarkoen_US
dc.date.accessioned2010-08-26en_US
dc.date.accessioned2010-09-10T11:58:03Z-
dc.date.available2010-09-10T11:58:03Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/39842-
dc.description.abstractWe use the Kalman filter to estimate the structure of the secret currency basket of the renminbi based on daily data between 2005 and 2009. The currency weights of selected currencies are modeled as stochastic processes (random walks). The official announcement of the new exchange rate regime in July 2005 with the introduction of a secret currency basket was followed by a smooth appreciation against the US dollar. Other currencies did not play a major role. We show that the US dollar again received a higher weight in the Chinese exchange rate policy already before the financial crisis of 2008.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper Monetary Policy and International Finance 3147en_US
dc.subject.jelG33en_US
dc.subject.jelG21en_US
dc.subject.jelC25en_US
dc.subject.ddc330en_US
dc.subject.keywordexchange rate regimeen_US
dc.subject.keywordKalman filteren_US
dc.subject.keywordfinancial crisisen_US
dc.subject.stwWechselkurssystemen_US
dc.subject.stwWährungskorben_US
dc.subject.stwZustandsraummodellen_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwUS-Dollaren_US
dc.subject.stwSchätzungen_US
dc.subject.stwChinaen_US
dc.titleTime-varying exchange rate basket in China from 2005 to 2009en_US
dc.typeWorking Paperen_US
dc.identifier.ppn634002082en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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