Readings in Renminbi (RMB) Misalignment

Basic Readings

• Econbrowser posts on China
• Richard Baldwin (editor), The US-Sino Currency Dispute (VoxEU/CEPR, April 2010)

US Government Statements and Reports

• US Treasury Department, Report to Congress on International Economic and Exchange Rate Policies (October 2016).
• CRS, "Currency Manipulation: The IMF and the WTO" RS22658 (Jan. 2011).
• CRS, "China-US Trade Issues" RL33536 (Dec. 2015).

Additional Readings

• Setser, Follow the Money, November 15, 2016.

Technical/Academic Studies

• "Estimating Currency Misalignment Using the Penn Effect: It’s Not As Simple As It Looks," mimeo (July 29, 2016) (with Yin-Wong Cheung and Xin Nong). [PDF]
• "Global Supply Chains and Macroeconomic Relationships in Asia," in Asia and Global Production Networks: Implications for Trade, Incomes and Economic Vulnerability (Edward Elgar for for ADB, 2014). [PDF]
• "China-US Trade Flow Behavior: The Implications of Alternative Exchange Rate Measures and Trade Classifications," Review of World Economics (2015). [PDF]
• "Are Chinese Trade Flows Different?" JIMF (2012) (with Yin-Wong Cheung and Xingwang Qian). [PDF]
• Cheung, Chinn and Fujii, "China’s Current Account and Exchange Rate," in Rob Feenstra and Shang-Jin Wei (eds.),China’s Growing Role in World Trade (Chicago, 2007).
• Aziz, Jahangir and Xiangming Li, "China's Changing Trade Elasticities," IMF WP 07/266.
• Jeffrey Frankel, "On the Renminbi: The choice between adjustment under a fixed exchange rate and adjustment under a flexible rate," NBER WP 11274.
• Barry Eichengreen, "China's Exchange Rate Regime: The Long and Short of It", Revision of a paper for Columbia University's conference on Chinese money and finance held in New York on February 2-3, 2006.
• Dunaway, Steven, Lamin Leigh, Xiangming Li, "How Robust are Estimates of Equilibrium Real Exchange Rates: The Case of China," IMF Working Paper No. 06/220 (Oct. 2006) .

Links

• IIE webpage on the Chinese Exchange Rate .

News Sources

• Asian Development Bank ARIC website link on money/finance related issues.

Current and Historical Data

• St. Louis Fed economic database Thousands of time series on economic activity, in an easily downloadable form; includes USD/CNY exchange rate.
• Bank for International settlements Effective Exchange Rate Indices (includes China).
• ADB, Key Indicators of Developing Asian and Pacific Countries. Electronic database on annual economic data.
• Penn World Tables Annual GDP and other data for over a hundred countries, expressed in dollars, after adjusting for differing price levels.