The Comparison Research of Exchange Rate and Stock Index in China and Japan--Based on Wavelet Analysis
As an emerging mathematical branch,wavelet analysis has become a most effective tool for almost all application and engineering fields.In this paper,after reviewing the experience of syndrome of ever-higher yen,we compare by wavelet analysis the exchange rate of RMB/dollar after July,2005 with that of yen/dollar after the Plaza Accord was signed.We also compare the CSI 300 Index with the Nikkei 225 in the same periods and the same way.We find that under the pressure of appreciation of RMB and Yen,the movements of the two exchange rates have become more and more similar.The similarity between the two stock indexes is first strong and then becomes weaker due to the macro-control of Chinese government.But there is still quite a similarity between two stock indexes,which indicates that bubbles may have appeared in the stock market of China.Consequently,it should be alerted that syn-drome of ever-higher yen might happen in China.
Exchange rate of RMB Syndrome of ever-higher yen Wavelet analysis Bubbles Similarity
Shan Huang Xiangning Wang Min Li
Department of Statistics and Finance,University of Science and Technology of China,Hefei,Anhui,230026,China
国际会议
长沙
英文
240-245
2008-10-28（万方平台首次上网日期，不代表论文的发表时间）