What is the extent of currency diversification in the international monetary system? How has it evolved over time? In this paper, we quantify the degree of curr

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a

This book edited by Michael Mussa, James M. Boughton, and Peter Isard, records the proceedings of a seminar held at the IMF in March 1996 on the future of the s

China’s exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over t