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On Models Of RMB Exchange Rate Determination

Posted on:2001-02-04Degree:MasterType:Thesis
Country:ChinaCandidate:L Y ZhengFull Text:PDF
GTID:2156360002950578Subject:Finance
Abstract/Summary:PDF Full Text Request
Based on Studying the aPPlicability of weStem exchange rate determination theory toChin4 this thesis uses the theory of purchasing power parity (PPP) and the model offoreign exchange SUPPly-and-demand for references tO contrict the long-run RMBexchange rate models and short-run ones resPechvely The fdrmer includes the PPPmodel the the facor of econondc grOwth and the PPP model differeniating tradablegoods from nondable goods; the latter includes the geometric model with thedetermination of intendional payInen and the econometric model with thedetenninations of both intrtional paymellt and "managed floating". Choosing thefirst and third model above for emPirical analysis, this thesis also estimates the long-runRMB equllibrium exchange rates from l98l to l999 and the shOrt-run RMB equilibriumexchange rates from the first qotr of l996 to the fourth quarter of l999.
Keywords/Search Tags:RMB exchange fate, model of exchange rate determination, PPP, foreign exchange supply and demand, iniemational payment
PDF Full Text Request
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