Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/89732
Authors: 
Jin, Hailong
Choi, E. Kwan
Year of Publication: 
2013
Series/Report no.: 
CESifo Working Paper 4551
Abstract: 
China's currency policy has been criticized for its apparent pursuit of mercantile advantage by artificially stimulating exports, which potentially have adverse effects on other economies. While China's currency policy may have positive output effects, there may be additional profits or losses. This paper computes the annual and cumulative accounting profits from currency intervention since 1994 when China began its currency intervention. It is shown that profits initially were positive but China since 2007 has lost a massive amount from the currency market.
Subjects: 
currency intervention
cumulative accounting profits
JEL: 
F10
Document Type: 
Working Paper

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