| 人民币均衡实际汇率:基于Montiel理论模型的研究 |
| |
| 引用本文： | 徐四星. 人民币均衡实际汇率:基于Montiel理论模型的研究[J]. 商业研究, 2009, 0(4) |
| |
| 作者姓名： | 徐四星 |
| |
| 作者单位： | 湖南理工学院计财处,湖南,岳阳,414006 |
| |
| 基金项目： | 湖南省教育厅科研项目 |
| |
| 摘 要： | 以Montiel的理论模型作为选择实际基本经济要素的主要依据,在参考中外学者对均衡汇率研究成果的基础上,结合我国实际情况,运用1980-2006年间相关经济变量数据,构建人民币均衡汇率模型。分析表明:这段时期分别存在人民币低估与高估的问题。人民币均衡汇率应是动态变化的,钉住一篮子货币能较好地反映人民币实际有效汇率的波动。
|
| 关 键 词： | 人民币 均衡实际汇率 协整 |
On RMB Equilibrium Real Exchange Rate Based on Montiel Model |
| |
| XU Si-xing. On RMB Equilibrium Real Exchange Rate Based on Montiel Model[J]. Commercial Research, 2009, 0(4) |
| |
| Authors: | XU Si-xing |
| |
| Affiliation: | Section of Finance Administration;Hunan Institute of Technology;Yueyang 414006;China |
| |
| Abstract: | This paper selects the basic economic factors based Montiel's theoretical model,referring to the relevant researches at home and aboard,by sampling the data from 1980 to 2006 to construct RMB equilibrium exchange rate model.Through the cointegration analysis,this paper finds RMB was undervalued during the period and concludes that the equilibrium exchange rate of RMB should be dynamic by pegging to a basket of currencies,which provides a good method to reflect the real and effective fluctuation of RMB. |
| |
| Keywords: | RMB equilibrium real exchange rate cointegration |
| 本文献已被 CNKI 维普 万方数据 等数据库收录！ |
|
