Economics, Econometrics and Finance
3 years ago

China's Currency Internationalization Shakes Up Domestic Monetary Policy Effects

International Journal of Economics and Finance
Influence of Renminbi Internationalization on China’s Monetary Policy Effects: A Theoretical Analysis
Huiguan Ding, Asli Ogunc, Dale Funderburk, Shiyou Li, Zhebie Shi

Paper Summary

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China's efforts to make its currency more international have complex effects on its monetary policy. By using a model of an open economy, researchers found that the internationalization of the Renminbi impacts how China's monetary policy works. This means that as the Renminbi becomes more global, it changes how China's monetary decisions affect its economy.