کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5083365 | 1477799 | 2016 | 23 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Actual intervention and verbal intervention in the Chinese RMB exchange rate
دانلود مقاله + سفارش ترجمه
دانلود مقاله ISI انگلیسی
رایگان برای ایرانیان
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: Actual intervention and verbal intervention in the Chinese RMB exchange rate Actual intervention and verbal intervention in the Chinese RMB exchange rate](/preview/png/5083365.png)
چکیده انگلیسی
Central bank communication has become a more and more important instrument for the monetary authorization to intervene its exchange rate. This paper investigates the impact of both verbal and actual intervention on the exchange rate of China's currency, which has become the second-used currency in international trade settlement. The empirical evidence indicates that the central bank communication can influence the exchange rate, but the efficient is quite weak. Moreover, the effect of verbal intervention on the exchange rate of the RMB is weaker than that of actual intervention. One possible explanation is that most of the statements made by the governor of central bank on the RMB exchange rate are neutral in China. Overall, this study identifies the difference between the actual and verbal intervention in exchange rate in China, the largest emerging economy in the world.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Economics & Finance - Volume 43, May 2016, Pages 499-508
Journal: International Review of Economics & Finance - Volume 43, May 2016, Pages 499-508
نویسندگان
May Hu, Yunfeng Li, Jingjing Yang, Chi-Chur Chao,