Pricing behavior、 Exchange rate Pass-through and Economic effect -A research based on NOEM and DSGE
Based on the new open economy macroeconomics (NOEM) framework, combined with the character of improvement trade, this paper builds up a stochastic general equilibrium (DSGE) model more in line with the status quo of Chinas economy. The simulation analysis shows that: (1) changes in exchange rates affects import and export prices rapidly, then passes to consumer price index, and affects the non-tradable goods price index lastly. (2)In the economies with improvement trade sector, the effect of appreciation on diminishing trade surpluses is limited; hi addition, how the appreciation changes domestic output has a large uncertainty. (3)when the proportion of export enterprises pricing to local currency rises, the effect of the appreciation on the export price decreases, which on inflation, trade surplus and the domestic economy increases.
Improvement trade Pricing behavior Exchange rate pass-through Economic effect
Xiao-feng Li Li-zhen Qian
School of Economics, Xiamen University, China School of Economics, Xiamen University, China ICBC Xiamen branch, China
国际会议
北京
英文
250-255
2012-05-19（万方平台首次上网日期，不代表论文的发表时间）