On the inclusion of the Chinese renminbi in the SDR basket
We study the impact of a broadening of the SDR basket to the Chinese currency on the composition and volatility of the basket. Although, in the past, RMB inclusion would have had negligible impact due to its limited weight, a much more significant impact can be expected in the next decades, and more so if the Chinese currency is pegged to the US dollar. If the objective is to reinforce the attractiveness of the SDR as a unit of account and a store of value through more stability, then a broadening of the SDR to the RMB could be appropriate, provided some flexibility is introduced in the Chinese exchange-rate regime. This issue of flexibility is de facto more important than that of “free usability” to make the SDR more stable, at least in the short and medium run
|Date of creation:||Nov 2012|
|Contact details of provider:|| Postal: 106-112 boulevard de l'Hôpital 75 647 PARIS CEDEX 13|
Phone: + 33 44 07 81 00
Fax: + 33 1 44 07 83 01
Web page: http://centredeconomiesorbonne.univ-paris1.fr/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Agnès Bénassy-Quéré & Sophie Béreau & Valérie Mignon, 2010.
"On the Complementarity of Equilibrium Exchange-Rate Approaches,"
Review of International Economics,
Wiley Blackwell, vol. 18(4), pages 618-632, 09.
- Agnès Bénassy-Quéré & Sophie Béreau & Valérie Mignon, 2010. "On the complementarity of equilibrium exchange-rate approaches," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00634789, HAL.
- Ignazio Angeloni & Agnès Bénassy-Quéré & Benjamin Carton & Christophe Destais & Zsolt Darvas & Jean Pisani-Ferry & André Sapir & Shahin Vallée, . "Global currencies for tomorrow: a European perspective," Blueprints, Bruegel, number 592, July.
- Ignazio Angeloni & Agnès Bénassy-Quéré & Benjamin Carton & Zsolt Darvas & Christophe Destais & Ludovic Gauvin & Jean Pisani-Ferry & André Sapir & Shahin Vallée, 2011. "Global currencies for tomorrow: A European perspective," European Economy - Economic Papers 2008 - 2015 444, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
- André Sapir & Jean Pisani-Ferry, 2011. "Global Currencies for Tomorrow: A European Perspective," ULB Institutional Repository 2013/174278, ULB -- Universite Libre de Bruxelles.
- Pedroni, Peter, 2004. "Panel Cointegration: Asymptotic And Finite Sample Properties Of Pooled Time Series Tests With An Application To The Ppp Hypothesis," Econometric Theory, Cambridge University Press, vol. 20(03), pages 597-625, June.
- Peter Pedroni, 2004. "Panel Cointegration: Asymptotic and Finite Sample Properties of Pooled Time Series Tests with an Application to the PPP Hypothesis," Department of Economics Working Papers 2004-15, Department of Economics, Williams College.
- Jean Fouré & Agnès Bénassy-Quéré & Lionel Fontagné, 2010. "The World Economy in 2050: a Tentative Picture," Working Papers 2010-27, CEPII research center.
- Mussa, Michael, 2000. "The Relationship Between the Euro and the Dollar," Journal of Policy Modeling, Elsevier, vol. 22(3), pages 369-377, May.
- J. J. Polak & Peter B. Clark, 2002. "International Liquidity and the Role of the SDR in the International Monetary System," IMF Working Papers 02/217, International Monetary Fund.
- Agnès Bénassy-Quéré & Jean Pisani-Ferry, 2011. "The Long March Towards a Multipolar Monetary Regime," La Lettre du CEPII, CEPII research center, issue 308.
- repec:bre:bluprt:586 is not listed on IDEAS Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:mse:cesdoc:12079. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lucie Label)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.