Sticky Equilibrium Exchange Effect Model of Monetary Policy and Elastic Analysis on Pricing of RMB Exchange
The paper tries to put exchange rate pricing into the framework of open macro economy and conducts general equilibrium research. The paper puts forward and constructs the Sticky Equilibrium Exchange Rate Effect Model(SEEREM) by using Open Economy as the macroeconomic framework, profit maximization of manufacturers as microeconomic foundation, strict mathematical deduction as logic link, Dornbusch’s sticky price as ideological guideline, differential impact form of Purchasing Power Parity as theoretical foundation, and comprehensively applying the models and methods such as optimization method, time series single equation, etc.The paper sets the price for the exchange rates for conversion from RMB to US dollars from 1992 to 2000, and predicts the pricing of 2001 by using the SEEREM for the conversion from RMB to US dollars. Using it as standard, the paper conducts elasticity analysis on the relation of market exchange rate deviation and current items from 1992 to 2001.
IS-LM analysis Exchange rate Inflation Sticky price Monetary Pricing
刘纪显
广东商学院,广州510320
国际会议
西安
英文
2006-07-17（万方平台首次上网日期，不代表论文的发表时间）