The Analysis, Based On The Rmb Real Exchange Rate Misalignment And Economic Effects Of The Beer Model

The problem of RMB exchange rate has long been a significant part in all kinds of economic issues. The stability of currency of a country plays a major role in keeping its constancy of the whole economy situation. Especially for the nowadays global economy crisis, the development of RMB exchange rate even relates to the trend of global economy.The suitability of the development of currency depends on whether the Real Exchange Rate and the Equilibrium Exchange Rate are consistent or not. If they are inconsistent, then we consider there is disturbance of Real Exchange Rate. The disturbance of Real Exchange Rate has some influence of any level of economy.This article is mainly about using BEER model, combined with the process of the development of the data of RMB exchange rate and the method of weeding out the optimal variance, to measure the disturbance of Real Exchange Rate of RMB. Meanwhile, this article also provides some empirical analysis of the economic effect of Real Exchange Rate and the disturbance of Real Exchange Rate. Last but not the least, this article also gives some analysis of the policy of currency.The research method of this article is history comparison and the methods from econometrics, and attempts to verify the resilience between theory and practice.