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PRODID:https://www.diw.de/de/diw_01.c.806339.de/veranstaltungen.html
METHOD:PUBLISH
CALSCALE:GREGORIAN
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UID:diw_01.c.513505.en
LOCATION:Gustav-Schmoller-Raum,DIW Berlin im Quartier 110,3.3.002A,Anton-Wilhelm-Amo-Straße 58,10117 Berlin
SUMMARY:Assessing the CNH-CNY Pricing Differential: Role of Fundamentals, Contagion and Policy
DESCRIPTION:12:00 - 13:15 // Renminbi internationalisation has brought about an active offshore market where the exchange rate frequently diverges from the onshore market. Using extended GARCH models, we explore the role of fundamentals, global factors and policies related to renminbi internationalisation in driving the pricing differential between the onshore and offshore exchange rates. Differences in the liquidity of the two markets play an important role in explaining the level of the differential, while rises in global risk aversion tend to increase the differential’s volatility. On the policy front, measures permitting cross-border renminbi outflows have a particularly discernible impact in reducing the volatility of the pricing gap between the two markets.
DTSTART;VALUE=DATE:20151028
DTEND;VALUE=DATE:20151028
DTSTAMP:20150907T220000Z
URL:https://www.diw.de/en/diw_01.c.513505.en/events/assessing_the_cnh_cny_pricing_differential_role_of_fundamentals_contagion_and_policy.html
ORGANIZER;CN=Hedwig Plamper
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