| 人民币汇率变动的价格传递效应——基于协整与误差修正模型的实证研究 |
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| 引用本文： | 毕玉江,朱钟棣.人民币汇率变动的价格传递效应——基于协整与误差修正模型的实证研究[J].财经研究,2006,32(7):53-62. |
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| 作者姓名： | 毕玉江 朱钟棣 |
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| 作者单位： | 1. 上海财经大学,国际工商管理学院,上海,200433
2. 上海对外贸易学院,国际经贸学院,上海,201600 |
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| 摘 要： | 文章使用协整与误差修正模型研究中国的汇率变动对进口价格的传递效应。研究结果表明人民币汇率变动对国内消费者价格的传递是不完全的,而且传递过程存在时滞。进口价格对人民币汇率变动的弹性远高于消费者价格对汇率变动的弹性。
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| 关 键 词： | 汇率传递 进口价格 实证研究 |
| 文章编号： | 1001-9952（2006）07-0053-10 |
| 收稿时间： | 2006-03-23 |
| 修稿时间： | 2006年3月23日 |
The Transfer Effect of Changes in RMB Exchange Rates: An Empirical Research Based on the Co-integration and Error Correction Models |
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| BI Yu-jiang,ZHU Zhong-di.The Transfer Effect of Changes in RMB Exchange Rates: An Empirical Research Based on the Co-integration and Error Correction Models[J].The Study of Finance and Economics,2006,32(7):53-62. |
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| Authors: | BI Yu-jiang ZHU Zhong-di |
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| Institution: | 1. School of International Business Administration, Shanghai University of Finance and Economics, Shanghai 200433,China ; 2. School of International Economy and Trade, Shanghai Institute of Foreign Trade, Shanghai 201600, China |
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| Abstract: | The Exchange rate is one of the key instrumental variables in an open economy.This paper explores the transfer effect of changes in RMB exchange rate on the prices of the import through the co-integration and error correction models.Findings indicate that the transfer effect of changes in RMB exchange rates on domestic CPI is incomplete and time-lagged.Furthermore,the elasticity of import prices to exchange rates is quite higher than that of CPI. |
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| Keywords: | exchange rate transfer import prices empirical research |
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