Renminbi already overappreciated:Evidence from FEERs(1994-2008)

被引：4

作者：

胡春田 ^{[1
,2
,3
]}

陈智君 ^{[2
]}

机构：

[1] Princeton University

[2] Jinhe Center for Economic Research,Xi'an Jiaotong University

[3] Department of Economics,Chinese Culture University

来源：

China Economist | 2010年 / 03期

关键词：

RMB; real exchange rate; exchange-rate misalignment;

D O I：

10.19602/j.chinaeconomist.2010.03.011

中图分类号：

F832.6 [汇兑、对外金融关系];

学科分类号：

1201 ; 020204 ;

摘要：

The renminbi appreciated against the U.S.dollar by 21% from July 2005 to February 2009.Thousands of enterprises f iled bankruptcy and many people lost their jobs in 2007-2008,all of which was possibly the result of over-appreciation.Nevertheless,estimation of the RMB equilibrium rate in recent studies shows that the current rate is still undervalued.By estimating the RMB fundamental equilibrium exchange rate,in contrast with other studies,we have found that the RMB rate may have been overvalued by the end of 2008.

引用

页码：64 / 78

页数：15

共 13 条

[1] 中国应该以经常项目逆差为目标吗——以人口结构变迁为视角 [J].