Exchange rate regimes - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T04:52:30+00:00China's Integration into the Global Financial System
https://www.bankofcanada.ca/wp-content/uploads/2010/06/masson.pdf
Despite having the world's largest GDP when measured in terms of purchasing-power parities, the third-largest share in world exports, and the world's largest foreign exchange reserves, China has only a minor role in the global financial system. Its banks have a modest international presence; China's currency, the renminbi, is virtually not used outside the country; and Chinese capital markets are not a significant source of financing for foreign borrowers. China's modest level of integration into the global financial system is explained by the emphasis given to domestic policy priorities. As the Chinese economy matures, and as reforms strengthen the domestic financial system, China will become more important in global financial markets. Changes are already occurring as China's financial might is being channeled towards overseas investments, and the authorities have committed to greater exchange rate flexibility. These changes will facilitate integration into the global financial system. In this article, the authors describe the current situation and speculate on the future evolution of Chinese financial institutions and markets.2008-06-19T16:11:45+00:00enChina's Integration into the Global Financial System2008-06-19Policy Coordination in an International Payment System
https://www.bankofcanada.ca/2008/05/working-paper-2008-17/
Given the increasing interdependence of both financial systems and attendant payment and settlement systems a vital question is what form should optimal policy take when there are two connected payment systems with separate regulators.2008-05-28T16:09:50+00:00enPolicy Coordination in an International Payment System2008-05-28Exchange rate regimesPayment clearing and settlement systemsWorking Paper 2008-17 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-17.pdfPolicy Coordination in an International Payment SystemJames ChapmanMay 2008EE4E42E5E58FF3F31F33China's Exchange Rate Policy: A Survey of the Literature
https://www.bankofcanada.ca/2008/03/discussion-paper-2008-5/
China's integration into the world economy has benefited its people by reducing poverty and raising living standards, and it has benefited the industrialized world by producing manufactured goods at lower cost. It has also raised geopolitical concerns as China's power grows, economic concerns as the manufacturing base in many industrialized countries erodes, and polemics as proposals of protectionist measures to counter China's export growth are put forward.2008-03-21T13:28:16+00:00enChina's Exchange Rate Policy: A Survey of the Literature2008-03-21Exchange rate regimesDiscussion Paper 2008-5https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp08-5.pdfChina’s Exchange Rate Policy: A Survey of the LiteratureRobert LafranceMarch 2008FF3F33F36Sterilized Intervention in Emerging-Market Economies: Trends, Costs, and Risks
https://www.bankofcanada.ca/2008/03/discussion-paper-2008-4/
The author examines recent trends in sterilized intervention among emerging-market economies, to determine the size and extent of this policy in relation to earlier periods of heavy reserve accumulation. He then analyzes whether the domestic costs and risks of substantial and prolonged sterilization are beginning to manifest themselves.2008-03-21T13:08:49+00:00enSterilized Intervention in Emerging-Market Economies: Trends, Costs, and Risks2008-03-21Exchange rate regimesFinancial stabilityInternational topicsDiscussion Paper 2008-4https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp08-4.pdfSterilized Intervention in Emerging-Market Economies: Trends, Costs, and RisksRobert LavigneMarch 2008EE5E52FF3F31OO2O24Canada's Experience with a Flexible Exchange Rate in the 1950s: Valuable Lessons Learned
https://www.bankofcanada.ca/wp-content/uploads/2010/06/schembri.pdf
Schembri studies Canada's post-World War II experience in introducing a floating exchange rate, including its effects on the Canadian economy and its influence on the development of macroeconomic theory. In particular, Canada's flexible exchange rate and high degree of capital mobility with the United States provided an unprecedented experiment for macroeconomic policy. The successes and difficulties encountered by Canadian authorities in managing monetary and fiscal policy under this regime drew the interest of researchers at the International Monetary Fund and elsewhere and had a significant impact on the development of the Mundell-Fleming model, the path-breaking innovation in modern open-economy macroeconomics.2008-03-18T13:51:05+00:00enCanada's Experience with a Flexible Exchange Rate in the 1950s: Valuable Lessons Learned2008-03-18Welfare Effects of Commodity Price and Exchange Rate Volatilities in a Multi-Sector Small Open Economy Model
https://www.bankofcanada.ca/2008/03/working-paper-2008-8/
This paper develops a multi-sector New Keynesian model of a small open economy that includes commodity, manufacturing, non-tradable, and import sectors. Price and wage rigidities are sector specific, modelled à la Calvo-Yun style contracts.2008-03-18T11:50:45+00:00enWelfare Effects of Commodity Price and Exchange Rate Volatilities in a Multi-Sector Small Open Economy Model2008-03-18Economic modelsExchange rate regimesInternational topicsWorking Paper 2008-8https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-8.pdfWelfare Effects of Commodity Price and Exchange Rate Volatilities in a Multi-Sector Small Open Economy ModelAli DibMarch 2008EE4E5E52FF3F4