摘要
一、引言在现行国际货币体系下,大多数国家实行浮动汇率制。人们经常会发现,某货币在对一种货币贬值的同时,又对另一种货币升值。因此,单从货币的一种双边名义汇率难以评价其总体价值。从70年代以来,人们开始使用名义有效汇率(NEER,或称为多边名义汇率,MN...
Abstract Based on calculating China's bilateral nominal effective exchange rate,This paper constructs real and nominal effective exchange rates to produce yearly data over 1969-1996 for China. As an application,the stationarity of bilateral real exchange rate are determined to establish the empirical validity of the Purchasing Power Parity (PPP) theory.The result reveals that PPP fails to hold for China.
出处
《统计研究》
CSSCI
北大核心
1999年第6期24-29,共6页
Statistical Research
基金
国家自然科学基金