Shi, Yanlin; Ho, Kin-Yip; Liu, Wai-Man (Raymond)
The stability of Chinese renminbi (CNY) against the US dollar (USD) has been the recent focus of economic and political discussion in the media, especially in light of the growing political pressure exerted by the US government to let the CNY/USD appreciate. This paper contributes to the discussion of the CNY/USD stability by examining its volatility dynamics since the floating regime is established. In particular, we analyze the fluctuations of the CNY/USD from the perspective of the mixture...[Show more]
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