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dc.contributor.authorWang, P
dc.contributor.authorWang, Peijie
dc.date.accessioned2020-10-07T13:19:22Z
dc.date.issued2020-10-01
dc.identifier.issn1076-9307
dc.identifier.issn1099-1158
dc.identifier.other2222
dc.identifier.urihttp://hdl.handle.net/10026.1/16491
dc.description.abstract

<jats:title>Abstract</jats:title><jats:p>This paper proposes an approach to correcting parameter misrepresentation under the dominance of a common factor, a customarily overlooked phenomenon. Meanwhile, it provides a general solution to a specific regression bias, namely coefficient correction for common factor dominance in econometrics, which is commonly encountered in the research on currency interactions and co‐movements and beyond. The RMB basket weights are then scrutinized exhaustively, going through all stages of the evolving RMB regime and reforms. Correct and sensible currency basket weights are derived accordingly. It has been found that only the introduction of the central parity regime in 2015 has changed the RMB exchange rate patterns notably. The RMB market behavior and patterns virtually did not change during the prior reforms that had widened the band of daily fluctuation in the RMB exchange rate against the US dollar from 0.3% through to 2%, given the band's unique link to the US dollar.</jats:p>

dc.format.extent1401-1418
dc.languageen
dc.language.isoen
dc.publisherWiley
dc.subjectexchange rate
dc.subjectRMB
dc.subjectRMB regime
dc.titleAssessment on estimations of currency basket weights—With coefficient correction for common factor dominance
dc.typejournal-article
dc.typeJournal Article
plymouth.author-urlhttps://www.webofscience.com/api/gateway?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000574039700001&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=11bb513d99f797142bcfeffcc58ea008
plymouth.issue1
plymouth.volume0
plymouth.publication-statusPublished
plymouth.journalInternational Journal of Finance and Economics
dc.identifier.doi10.1002/ijfe.2222
plymouth.organisational-group/Plymouth
plymouth.organisational-group/Plymouth/Faculty of Arts, Humanities and Business
plymouth.organisational-group/Plymouth/Faculty of Arts, Humanities and Business/Plymouth Business School
plymouth.organisational-group/Plymouth/REF 2021 Researchers by UoA
plymouth.organisational-group/Plymouth/REF 2021 Researchers by UoA/UoA17 Business and Management Studies
plymouth.organisational-group/Plymouth/Users by role
plymouth.organisational-group/Plymouth/Users by role/Academics
dcterms.dateAccepted2020-07-28
dc.rights.embargodate2020-10-14
dc.identifier.eissn1099-1158
dc.rights.embargoperiodNot known
rioxxterms.versionofrecord10.1002/ijfe.2222
rioxxterms.licenseref.urihttp://www.rioxx.net/licenses/all-rights-reserved
rioxxterms.licenseref.startdate2020-10-01
rioxxterms.typeJournal Article/Review


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