主講人：劉韬 副教授

時  間：2024年3月20日（周三）11:30-13:00

地  點：沙河校區學院13号樓321

主  辦：伟德平台怎么样

摘要：This paper examines the announcement effect of the financial policies that aim to promote the international usage of a previously domestic currency. To this end, we propose an open-economy monetary search model with transaction costs and use it to analyze international currency choices. We examine not only steady state changes, but also the transition path between these states. The announcement effect on transition dynamics depends on various factors such as the degree of risk aversion, searching friction and information structure. Our empirical estimation with SWIFT dataset between 2010 and 2018 reveals a significant but asymmetric announcement effect of RMB swap lines (RSL). We find that RSL announcements increase the RMB share in a country's import from China, but not its export to China. Finally, a calibrated model implies that RSL decrease RMB's transaction cost by 54.35%.

主講人簡介：

劉韬，伟德平台怎么样長聘副教授，加州大學戴維斯分校經濟學博士，主要研究領域為國際金融和貨币經濟學，其研究成果發表在Journal of Economic Behavior & Organization、《經濟研究》等國内外期刊，主持國家自然科學青年項目1項。