| 贸易溢出效应对人民币有效汇率的影响 |
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| 引用本文： | 庞晓波,姚远.贸易溢出效应对人民币有效汇率的影响[J].国际金融研究,2011(4). |
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| 作者姓名： | 庞晓波 姚远 |
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| 作者单位： | 吉林大学商学院; |
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| 基金项目： | 教育部人文社会科学重点研究基地重大项目:《金融稳定的内生机制和外部条件与金融危机防范体系研究》(项目编号:10JJD790033) |
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| 摘 要： | 本文在Masson的多重均衡理论基础上,根据贸易联系传染金融危机的理论假说,以中国为中心,以其在本次次贷危机中受到严重影响的贸易伙伴(美国、加拿大、德国、日本和英国)为外围,选取2007年2月至2010年3月的月度数据,从直接贸易与间接贸易两个角度构建冲击变量,利用边限检验方法,检验金融危机通过两种贸易渠道从外围国传染给中心国的途径,基于ARDL模型及VAR系统,探究中国在由美国次贷危机引发的全球金融危机中受传染的情况。
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| 关 键 词： | 金融危机传染 汇率波动 贸易溢出 |
Trade Spillover Effect on RMB Effective Exchange Rate |
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| Pang Xiaobo Yao Yuan.Trade Spillover Effect on RMB Effective Exchange Rate[J].Studies of International Finance,2011(4). |
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| Authors: | Pang Xiaobo Yao Yuan |
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| Institution: | Pang Xiaobo Yao Yuan |
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| Abstract: | This paper based on Masson's multiple equilibria theory.According to the theory hypothesis that trade links can spread financial crisis,we set China as central country,choose the trade partners which been severely affected in the Subprime Crisis(USA,Canada,German,Japan and British) as external country,use the monthly date during February 2007 and March 2010,and set up impact variables from two point of view as direct trade and indirect trade.We examine the way that financial crisis spread from central count... |
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| Keywords: | Financial Crisis Contagion Exchange Rate Fluctuation Trade Spillover |
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