1.1 OVERVIEW OF THE STUDY

In response to recent developments in international macroeconomics theory, there has been a strong interest among academics and central bankers regarding a firm’s choice of a currency to price its exports. Since Obstfeld and Rogoff (1995) published their work on new open-economy macroeconomics, a dynamic general equilibrium open-economy model with micro foundations, many researchers have incorporated the firm’s invoicing decision into this model. The New Open Economy Macroeconomics (henceforth NOEM) is a leading development in international economics starting in the early 1990s. Its objective is to provide a new theoretical framework for open economy analysis and policy design, overcoming the limitations of the Mundell-Fleming model, while preserving the empirical wisdom and the close connection to policy debates of the traditional literature. This line of research shows that the transmission of monetary policy, optimal monetary policy rules and the......

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Title: China Corporate Currency Invoicing Strategy
Approximate Word Count: 1064
Approximate Pages: 5 (250 words per double-spaced page)

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