Take RMBs Exchange Rate System Vicissitude as Clue to Quest the Forming of Real-life Exchange Rate Misalignment
After established equilibrium real effective exchange rate model of RMB, this paper analyzed the trends and the degree of misalignment of RMB realistic exchange rate on the different stages of the exchange rate system. The results show that the stronger the market mechanism in the realistic exchange rate forms the function to be, the closer the realistic exchange rates tends to the equilibrium exchange rate. Otherwise, the misalignment in the trend of the realistic exchange rate is more obvious. To reduce the misalignment level of the RMB exchange rate in reality and make the equilibrium exchange rate play an important role in the economic balance, we should push forward the market-oriented reforms unswervingly about RMB exchange rate formation mechanism and improve the managed floating exchange rate system.
Exchange rate Equilibrium Misalignment System vicissitude
WANG Chunping
Business School, Shandong University at Weihai, No. 180, Wenhuaxi road, Weihai, Shandong province,P.R.China, 264209
国际会议
The Eleventh International Symposium--Management Sciences and Engineering(第十一届管理科学与工程国际研讨会)
兰州
英文
464-470
2011-11-12（万方平台首次上网日期，不代表论文的发表时间）