test_moissonnage_selune
type: Agent

The Impact of Yuan Internationalization on the Euro-Dollar Exchange Rate
type: Distribution
access URL: https://pse.hal.science/hal-00961708
format: HTML
issued: 2026-05-05T23:30:47.147879
modified: 2026-05-05T23:30:47.107724

The Impact of Yuan Internationalization on the Euro-Dollar Exchange Rate
type: Dataset
contact point: Organization
  fn: CCSD
keyword: infoeu-reposemanticspreprint
keyword: preprints-working-papers-
keyword: euro
keyword: dollar
keyword: exchange-rate-regime
keyword: yuan
keyword: china
keyword: shsecohumanities-and-social-scienceseconomics-and-finance
landing page: https://pse.hal.science/hal-00961708
description: We study the implication of a multipolarization of the international monetary system on crosscurrency volatility. More specifically, we analyze whether the internationalization of the yuan could modify the impact of asset supply and trade shocks on the euro-dollar exchange rate, within a threecountry, three-currency portfolio model. Our static model shows that the internationalization of the yuan (defined as a rise in the yuan in international portfolios) would be either neutral or stabilizing for the euro-dollar rate, whatever the exchange-rate regime of China. Moving to a dynamic, stockflow framework, we show that the internationalization of the yuan would make exchange-rate variations more efficient to stabilize net foreign asset positions after a trade shock.
issued: 2026-05-05T23:30:47.124515
language: en
modified: 2026-05-05T23:30:47.124520