Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 史怡中教授 (金融学系) |
| 周文林教授 (经济学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1006/jcec.1997.1498 |
引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/28WOS source URL
其它资讯
摘要Two approaches are used in this paper to estimate the equilibrium exchange rates of the Chinese currency, the renminbi (RMB): the purchasing power parity (PPP) model and the shadow price of foreign exchange (SPFE) model. The SPFEs are estimated including tariffs and import quotas. The paper starts with a test for the long-run PPP using quarterly data. In comparison with the estimated equilibrium exchange rates, we find that the actual rates were in general overvalued. From 1990 to 1994, the official exchange rates are found to lie between the PPP rates and the SPFEs. This implies that the Chinese government has adopted an exchange rate policy that maintains official exchange rates close to equilibrium levels. (C) 1998 Academic Press.
着者Chou WL, Shih YC
期刊名称Journal of Comparative Economics
出版年份1998
月份3
日期1
卷号26
期次1
出版社ACADEMIC PRESS INC
页次165 - 174
国际标準期刊号0147-5967
电子国际标準期刊号1095-7227
语言英式英语
Web of Science 学科类别Business & Economics; Economics; ECONOMICS
