China's Currency Policy

"China is Still #2," Project Syndicate, May 5. Expanded as "China is Not Yet #1," VoxEU, May 19, 2014.

"Will the Yuan Challenge the Dollar as Top International Currency?" CERK International Conference, SungKyunKwan University, May 22, 2014.

"Internationalization of the RMB and Historical Precedents," published in Journal of Economic Integration 2012, vol.27, no.3, pp. 329-365.

“Historical precedents for the internationalization of the RMB,” 2011. Written for a workshop in Beijing of the Council on Foreign Relations & the China Development Research Foundation, Nov.1.

Summary: "Internationalization of the Renminbi: What Does History Tell us About the Precedents?" Oct.5. Versions at RIETI & Vox, Oct.10, 2011.

"The RMB as an International Currency," slides, Club de CEPII, Paris, 12 Jan., 2011.

"The Renminbi Since 2005," in The US-Sino Currency Dispute: New Insights from Economics, Politics and Law, edited by Simon Evenett (Centre for Economic Policy Research: London) 2010, 51-60.

"China-US Currency Issues," slides, CLD Program, Ash Center, June 8, 2010.

"The Renminbi-Dollar Issue," slides, Spring Exercise, HKS, April 23, 2010.

"China, the US, and Currency Issues,"slides, Chinese Future Leaders, Harvard, Jan. 29, 2010.

“On Global Currencies,” ECB, June 2009. Powerpoint. Condensed and translated into Chinese, for International Herald Leader, Xinhua, Beijing, July 30, 2009.

“New Estimation of China’s Exchange Rate Regime" in Pacific Economic Review, vol. 13, no. 3, special issue, China's Impact on the Global Economy, edited by Menzie Chinn, pp. 346-360.   Proofs F inal draft, June 2009.    NBER WP no. 14700, Feb. 2009.     Data.
Related paper:  New Estimation of the RMB Regime (incl. appendix tables) in China’s Emerging Financial Markets: Challenges and Opportunities, John Tatom, Glenn Yago, and James Barth, eds.  (Springer).    RWP08-077.

“The United States, China, and the Policy Choices,” Conference on the Global Economy in Balance, U. Wisconsin, Madison, May 2008.  Slides.

“Comments on Cline and Williamson’s ‘Estimates of the Equilibrium Exchange Rate of the Renminbi?’,” in Debating China's Exchange Rate Policy, M. Goldstein and N. Lardy, eds.(Peterson Institute for International Economics, Washington DC), 2008, 155-165. From 2007 conference.

“Comment on ‘China’s Current Account and Exchange Rate,’ by Yin-Wong Cheung, Menzie Chinn and Eiji Fuji,” in China’s Growing Role in World Trade,  NBER, edited by Rob Feenstra and Shang-Jin Wei, (University of Chicago Press, 2010).

"Assessing China's Exchange Rate Regime," (with Shang-Jin Wei), Economic Policy, 2007.   Earlier working paper versions contain more extensive tables: CEPR DP No. 6264, May 2007, and NBER WP, May 2007.   Slides.   Zipped programs and datasets (To generate the paper's tables & figures, follow the file "EP Journal Wrap Up.doc").     Revised from  “Evaluating China’s Exchange Rate Regime,”  fall meeting of NBER China Group, Oct.13, 2006.   A very early version appeared as “Currency Mysteries”, May 28, 2006.    Includes also  "Are US Treasury Findings of Exchange Rate Manipulation by Asians Based on Valid Economics or on Political Expediency?," KSG, April 11, 2006.   Treasury reports.

“On the Renminbi,”  CESifo Forum, vol 6, no. 3, Autumn 2005, p. 16-21, Ifo Institute for Economic Research, Munich.

“On the Yuan: The Choice Between Adjustment Under a Fixed Exchange Rate and Adjustment under a Flexible Rate,”   published with abstract, in Understanding the Chinese Economy, edited by Gerhard Illing (CESifo Economic Studies, Munich), 2006.   Proof .  Revised from  "On the Renminbi: The choice between adjustment under a fixed exchange rate and adjustment under a flexible rate,"   High-Level Seminar on Foreign Exchange System,  Dalian, China, May 2004. RWP04-037.   NBER WP 11274.   Presentation at American Enterprise Institute, Washington DC, Jan. 10, 2005