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We estimate the equilibrium exchange rate (EER) of the Chinese renminbi (RMB) visa -vis the U.S. dollar from 1992 to 2008. In contrast to the recent empirical studies on the EER employing a large crosscountry analysis, we focus on the supply side real factors in estimating the EER by extending the Yoshikawa (1990) model. To better reflect China's processing(More)
In this paper we use a structural VAR model with block exogeneity to investigate if external shocks originating from the USA played a dominant role in influencing the macroeconomic fluctuations in East Asia during the period 1978-2007. The empirical results show a dynamic effect of external shocks, implying that, even though regional integration appears to(More)
In this paper, we propose, simulate and experimentally demonstrate a convenient pre-compensation method, which is capable of mitigating fiber nonlinearity in dense wavelength-division-multiplexed long-haul high-speed systems. From nonlinear Schrödinger equation, we deduce that an optical signal with quadratic phase will have better nonlinear suppression(More)
This paper investigates the underpricing and long-run performance of 230 A-share IPOs issued in the Chinese markets using comparable firm * The authors wish to thank the journal Editor-in-Chief, Professor Kyung Mook Lee, and three anonymous referees for extremely valuable comments. The last author wishes to acknowledge the financial support of a Strategic(More)