scholarly journals The Renminbi Exchange Rate Reform and Its Implications for Asian Markets

2016 ◽  
Vol 02 (04) ◽  
pp. 485-506 ◽  
Author(s):  
Takamoto Suzuki
Keyword(s):  
United States ◽  
Exchange Rate ◽  
Emerging Economies ◽  
The United States ◽  
Economic Policies ◽  
Macroeconomic Policies ◽  
Monetary Policies ◽  
Special Drawing ◽  
The Stability ◽  
The U.S

Up until now, the Renminbi (RMB) reform has been progressing gradually. With the RMB becoming a Special Drawing Right (SDR) component currency, China’s monetary policies will exert significant influence on the international marketplace. The year 2014 witnessed the weakening of the RMB against the U.S. dollar, yet thanks to China’s prudent economic policies, the RMB stopped depreciating further and remained quite stable for the first half of 2015, which benefited not only China itself, but also the United States, Japan, and other Asian economies. Asian markets used to be strongly influenced by the U.S. monetary policy and the performance of the U.S. dollar. However, since the RMB devaluation against U.S. dollar in the summer of 2015, Asian markets have been inclined to move in accordance with the market information from China rather than that from the United States. Although the RMB is not a currency like the euro that has been adopted by a number of countries, it can still exert great impacts on emerging economies in the world. For the RMB to take hold globally, improved fundamentals in emerging economies, an easing in the influence of the RMB-USD exchange rate, and a healthy financial system in China are all necessary. Meanwhile, both China and the United States need to enhance their coordination on macroeconomic policies and guarantee the stability of RMB-USD exchange rate.

Cuba: From “Dollarization” to “Euroization” or “Peso Reconsolidation”?

2002 ◽  
Vol 44 (2) ◽  
pp. 99-123
Author(s):  
Archibald R. M. Ritter ◽  
Nicholas Rowe
Keyword(s):  
United States ◽  
Exchange Rate ◽  
Money Supply ◽  
Economic Structure ◽  
The United States ◽  
Significant Component ◽  
Cuban Government ◽  
The U.S

AbstractSince its “depenalization” in 1993, the U.S. dollar has become possibly a more significant component of Cuba's money supply than the old peso. What are the alternatives? The euro seems inappropriate, given the inevitability of eventual normalization of relations with the United States. More advantageous would be to restore the Cuban peso, though this would involve unifying the bifurcated economic structure and the dual monetary and exchange rate systems. The Cuban government has yet to announce its plans. This study argues that an appropriate mix of exchange rate, monetary, fiscal, and income or wage and salary policies should support a rehabilitation of the Cuban peso.

U.S.-China Exchange Rate Negotiation: Stakeholders' Participation and Strategy Deployment

2011 ◽  
Vol 13 (3) ◽  
pp. 1-23 ◽  
Author(s):  
Emily Yixuan Cao ◽  
Yong Cao ◽  
Rashmi Prasad ◽  
Zhengping Shen
Keyword(s):  
United States ◽  
Exchange Rate ◽  
Exchange Rates ◽  
Domestic Politics ◽  
Historical Review ◽  
The United States ◽  
Negotiation Strategy ◽  
Negotiation Strategies ◽  
The Exchange Rate ◽  
The U.S

Exchange rates influence a country's trading capability, foreign reserves and competitiveness. Recently, the exchange rate between the Chinese RMB and the U.S. dollar has been a contentious issue in both the United States and China. In this paper, we conduct a historical review of how the United States deployed negotiation strategies with China on the exchange rate issue and consider the degree to which it follows theoretical expectations. We then analyze the changing nature of the factors which shape exchange rate negotiations between the two nations in projecting alternative scenarios for the future of conflict resolution between the U.S. and China on this issue. We predict that the U.S. is likely to continue alternating between competition and collaboration, a negotiation cycle influenced by U.S. domestic politics, and China is less likely to continue with accommodation and compromise. The sequencing and timing of each nation's negotiation strategy will lead to widely divergent consequences for the management of exchange rates and the world economy.

scholarly journals Korean migration to North America: some prices that matter

2005 ◽  
Vol 32 (2) ◽  
pp. 155 ◽  
Author(s):  
J. D. Han ◽  
Peter Ibbott
Keyword(s):  
United States ◽  
Exchange Rate ◽  
The United States ◽  
Financial Capital ◽  
Migration Decision ◽  
Migration Literature ◽  
Exchange Rate Movements ◽  
Using Data ◽  
Korean Immigration ◽  
The U.S

The empirical migration literature has emphasized the role that differences in the return to human capital play in the migration decision. In this paper, we argue that many migrants are also concerned with differences in the return to the financial capital that they bring with them. One testable implication of the theory is that depreciation in the value of the Canadian dollar relative to the U.S. dollar should cause some migrants to substitute Canada for the United States as their destination of choice. Using data on Korean immigration to Canada and the United States, we estimate a regression model to test this hypothesis. The statistical evidence strongly supports a conclusion that exchange rate movements can cause some migrants to substitute destinations.

scholarly journals Dynamic Interrelationships between the U.S. Agricultural Trade Balance and the Macroeconomy

2007 ◽  
Vol 39 (3) ◽  
pp. 457-470 ◽  
Author(s):  
Jungho Baek ◽  
Won W. Koo
Keyword(s):  
United States ◽  
Exchange Rate ◽  
Money Supply ◽  
Trade Balance ◽  
The United States ◽  
Agricultural Trade ◽  
Long Run ◽  
Trading Partners ◽  
The Exchange Rate ◽  
The U.S

The effects of the exchange rate and the income and money supply of the United States and its major trading partners on the U.S. agricultural trade balance are examined using an autoregressive distributed lag (ARDL) model. Results suggest that the exchange rate is the key determinant of the short- and long-run behavior of the trade balance. It is also found that the income and money supply in both the United States and the trading partners have significant impacts on U.S. agricultural trade in both the short and long run.

scholarly journals The special drawing right: a formal critic to the dollar dominance in the international monetary system

2017 ◽  
Vol 37 (2) ◽  
pp. 401-416
Author(s):  
ALINE REGINA ALVES MARTINS
Keyword(s):  
United States ◽  
International Monetary System ◽  
The United States ◽  
Bretton Woods ◽  
Monetary System ◽  
Special Drawing ◽  
Political Interests ◽  
The U.S

ABSTRACT In the late-1960’s, international discussions over a possible reform of the international monetary system originated the Special Drawing Right (SDR). While they had been created initially to represent an additional asset to complement the existing reserves of U.S. dollars and gold, after the crisis of the Bretton Woods system the SDR was considered a possible substitute of the U.S. dollar. Relying on a consolidated literature, this article aims at demonstrating that the origins of the SDR were not the exclusive result of technical financial negotiations, but of the convergence of higher political interests against the United States and the dollar dominance.

scholarly journals Analisis Respon Pertumbuhan Ekonomi Indonesia Akibat External Shock Amerika Serikat dan China

2021 ◽  
Vol 8 (1) ◽  
pp. 20
Author(s):  
Alvin Sugeng Prasetyo ◽  
Mochamad Devis Susandika
Keyword(s):  
United States ◽  
Economic Growth ◽  
Exchange Rate ◽  
The United States ◽  
Economic Policies ◽  
External Shocks ◽  
The Us ◽  
Us Dollar ◽  
Better Than

The purpose of this study is to examine and analyze the response to Indonesia's economic growth caused by external shocks from the United States and China. The method used is VECM, because it is stationary at I (1) and there is cointegration. The estimation results show that the uncertainty of China's economic policies and the contribution of China's economic growth has a greater effect than the United States on Indonesia's economic growth. The shock of the rupiah exchange rate against the US dollar was better than the rupiah exchange rate against the RMB. The shock of changes in oil prices was responded negatively by changes in Indonesia's economic growth. In the long term, there are no signs of a movement in response to changes in Indonesia's economic growth towards equilibrium (convergence).  

scholarly journals Gaza in Crisis

2009 ◽  
Vol 2 (2) ◽  
Author(s):  
Sarah Eversman
Keyword(s):  
United States ◽  
Middle Eastern ◽  
The United States ◽  
Third Party ◽  
The European Union ◽  
Peace Negotiations ◽  
The World ◽  
The Stability ◽  
The Right ◽  
The U.S

This ongoing dispute clearly concerns the United States, the long-term third party in peace negotiations, and a close ally of Israel. However, now more than ever European and Middle Eastern states are invested in the resolution of this conflict. The stability of Israel and the humanitarian status of the Palestinians depend upon the resolution of this conflict. So, what should President Barack Obama hope to accomplish in the coming months, in light of the overwhelming array of issues already on his agenda? And what should the rest of the world expect from U.S. foreign policy regarding the Israeli-Palestinian conflict under Mr. Obama’s administration? Political maneuvering is already underway and the recent elections in Israel have shifted the power structure of Israeli politics significantly to the right with Benjamin Netanyahu, leader of the right-wing Likud Party, elected as Prime Minister and sworn in at the end of March 2009. Furthermore, Egyptian negotiators are attempting to bridge the deep divide between Fatah and Hamas in order to strengthen the unity of Palestinian politics, but the outcome of this endeavor remains to be seen. As the global economic crisis continues to worsen, the attention of the world shifted from the Israeli- Palestinian conflict to the G-20 Summit and NATO meetings. Therefore, it is the role of world leaders, particularly the United States, to maintain focus on rebuilding Gaza and acting as intermediaries in any Israeli and Palestinian negotiations. Secretary of State Hillary Clinton must ensure the State Department keeps its finger firmly on the pulse of political and social activities in the region in order to prevent renewed fighting. The United States and Europe should have anticipated more aware of this impending crisis and in the aftermath of the conflict, neither can afford to watch from the sidelines. Dialogue and diplomacy are the way out of this mess, and it is in the interests of both Europe and the U.S. to engage both sides in this dispute if further violence is to be prevented. If Mr. Obama wants to have peace in the Middle East in our time, he will have to persuade all of the actors to sit around a table and to talk about the conflict. The Bush administration’s strategy of strengthening Fatah and isolating Hamas has not worked. Secret negotiations are just as ineffectual as the exclusion of certain actors. Only a common platform for dialogue will enable the U.S. and the European Union to fulfill their peacemaking mission.

scholarly journals A Comparative Analysis of Exchange Rate Pass-Through in China, Eurozone and the U.S.: A Vector Error Correction Model

2017 ◽  
Vol 9 (8) ◽  
pp. 51
Author(s):  
Sheng Xu ◽  
Hailun Zhang ◽  
Said Atri
Keyword(s):  
United States ◽  
Exchange Rate ◽  
Error Correction ◽  
The United States ◽  
Error Correction Model ◽  
Correction Model ◽  
Long Run ◽  
The Exchange Rate ◽  
Pass Through ◽  
The U.S

This study examines the pass-through effect of fluctuations in the exchange rate on inflation in China in comparison with similar effects in the Eurozone and the United States. Using a set of monthly data covering the period 1999 through 2015 for each case, we constructed a Vector Auto Regressive (VAR) model as well as an Error Correction model (VECM) to estimate the pass-through effects in the three cases. In addition, to ensure that our results are statistically unbiased we also tested the stationarity of the variables of the model. Moreover, to distinguish between the short-run and long-run pass-through effects, we made use of a series of co-integration tests. Our results indicate that the pass-through effect of changes in the exchange rate in China is much weaker than it is in the Eurozone and the United States. We found this effect in the U.S. to be both more notable and longer-lasting.

Prisms of Distance and Power: Viewing the U.S. Regulatory Tradition

2019 ◽  
Vol 93 (4) ◽  
pp. 781-799
Author(s):  
David J. Gerber
Keyword(s):  
United States ◽  
Political History ◽  
Competition Law ◽  
Specific Area ◽  
The United States ◽  
Business History ◽  
Economic Policies ◽  
Cognitive Distance ◽  
The Relationship ◽  
The U.S

Distorted images of American regulatory ideas and practices frame foreign responses to these practices as well as foreign views of the economic policies of the United States. U.S. power both embeds and contributes to these distorted images. This article highlights the evolution of these distortions and the ways in which business history has intertwined with legal and political history throughout the evolution. It focuses on a specific area of regulation—antitrust or competition law—in order to ground the more general discussion. The article provides insights into the relationship between cognitive distance and power and into its pernicious effects on transnational discussions and decisions involving competition law.

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