Does the Chinese interest rate follow th
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Yin-Wong Cheung; Dickson C. Tam; Matthew S. Yiu
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Article
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2008
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John Wiley and Sons
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English
โ 181 KB
## Abstract One argument for floating the Chinese renminbi (RMB) is to insulate China's monetary policy from the US effect. However, we note that both theoretical considerations and empirical results do not offer a definite answer on the link between exchange rate arrangement and policy dependence.