Causes of the Change of Real Exchange Rate of RMB : Evidence from an SVAR model

摘要：

The change of real exchange rate of RMB (Reminbi) is influenced by real and nominal factors.The former includes the productivtity rate and trade conditions;the latter involves nominal exchange rate and money supply.With the employment of SVAR model,we find that nominal factors are the chief ones that cause the real exchange rate to change.Amongst nominal factors,nominal exchange rate has greater influence on the change of real exchange rate than monetary factors.Therefore,the continuous growth of Chinas economy fails to explain the change of real exchange of RMB.

关键词： the change of real exchange nominal exchange rate SVAR model

作者: Xingwang Jiang Xianyun Wan

作者单位: Zhejiang Normal University,Jinhua,Zhejiang 321004

会议类型: 国际会议

会议名称: The 2008 International Conference on Business Intelligence and Financial Engineering(BIFE 2008)(商业智能和金融工程国际会议)

会议地点: 长沙

会议语种:英文

页码: 1006-1012

在线出版日期: 2008-10-28（万方平台首次上网日期，不代表论文的发表时间）