Wednesday, March 29, 2006
The RMB currency regime budged!
As readers of this blog may know, for almost six months now, Achim Zeileis, Ila Patnaik and myself have been sniffing at the Chinese currency regime. So far, our story was that there was miniscule currency flexibility and no evidence of structural change. This has changed! Look at our monitoring plot on that web page: For the first time now, we can reject the null of an unchanged currency regime when compared with the history period (August, September, October). We're hard at work on this... stay tuned. :-)