The authors find that some approaches for evaluating China's renminbi imply substantial underevaluation, while others imply little or none, and other methods indicate slight overevaluation.

The authors find no strong tie between exchange rate regime flexibility and the rate of current account reversion, even after accounting for economic development, trade and capital account openness. They also find that the ...

The author discusses alternative measures of effective exchange rates in the context of their theoretical underpinnings and actual construction. Focusing on contemporary indices and recently developed econometric ...

This paper looks into the relationship between financial globalization and China's economic development. The authors suggest that China may need to reform its financial institutions and systems to accommodate more market ...

This paper examines the potential role for foreign official holdings of U.S. Treasury securities and the associated implications for Treasury security interest rates, international portfolio allocations, net international ...

The authors show that data do not support the assertion that a flexible exchange rate regime would facilitate current account adjustment.

With a new approach, the authors examine the relative predictive power of the sticky price monetary model, uncovered interest parity, and a transformation of the net exports variable.

The authors find little statistical that China's renminbi is undervalued.

This paper re-examines aggregate and disaggregate import and export demand functions for the United States. This re-examination is warranted because income elasticities are too high to be warranted by standard theories ...

The authors examine whether the Chinese exchange rate is misaligned and how Chinese trade flows respond to the exchange rate and to economic activity. They find, first, that the currency is substantially below the value ...