[10月22日]国际经济学Workshop

Seminar on International Economics (10.22)
 
时间：2014年10月22日（周三）10:30-12:00
地点：北京大学国家发展研究院/中国经济研究中心小教室
主持：余淼杰
主讲：曾志雄, Monash University
 
主题：Exchange Rate Regimes and Market Integration: Evidence from the Dynamic Relations between the Renminbi Onshore and Offshore Markets
 
摘要：This paper examines the dynamic conditional correlations and spillovers between daily return changes in the Renminbi (RMB) onshore and offshore markets, and link them to the exchange rate regime. We find that flexible exchange rates are prone to market integration and promote information flows, mainly from the offshore market to the onshore market, and that there are a correlation jump and a spillover reversal when the RMB exchange rate regime switches from a pegged system to a managed floating system in July 2005. These findings have important implications for China’s monetary and foreign exchange policies and shed light on the internationalization of the RMB.
 
演讲者简介：曾志雄，澳大利亚莫纳什大学（Monash University）经济学系兼职高级研究员，博士毕业于美国西北大学（Northwestern University）。研究领域为宏观经济学、货币经济学、国际经济学以及金融经济学。目前已在Journal of Banking & Financ，Economic Theory，Real Estate Economics，Economics Letters，Pacific Economic Review，Journal of Housing Economics等期刊上发表多篇文章。
 

 

CV-Zeng Zhixiong-201 41015.pdf

Exchange Rate Regime s and Market Integration.pdf