How much is the Chinese currency undervalued? A quantitative estimation

被引：46

作者：

Chang, GH

Shao, Q

机构：

[1] Univ Toledo, Dept Econ, Toledo, OH 43606 USA

[2] Univ Toledo, Dept Math, Toledo, OH 43606 USA

来源：

CHINA ECONOMIC REVIEW | 2004年 / 15卷 / 03期

关键词：

China; currency value; exchange rate; estimation;

D O I：

10.1016/j.chieco.2004.06.005

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper conducts a quantitative estimation for the equilibrium value of the Chinese currency, the RMB. After controlling for heteroskedasticity, we find that the RMB was undervalued by 22.5% in 2003, with a P value of .286. These findings confirm that the RMB was undervalued, although the results are not statistically significant. (C) 2004 Elsevier Inc. All rights reserved.

引用

页码：366 / 371

页数：6