摘要
文章基于巴拉萨-萨缪尔森效应视角构建理论模型,将劳动力价格扭曲引入到人民币实际汇率的分析当中。并利用了中国1998~2014年30个省域面板数据,实证检验了劳动力价格扭曲对人民币实际汇率的影响。研究发现,劳动力价格扭曲对人民币实际汇率有着显著的负向影响,即劳动力价格扭曲数值的增加会导致人民币实际贬值,其作用机理是通过影响B-S效应逐步抑制人民币实际升值。另外,分地区的面板数据分析同样证实了上述影响的存在,表明劳动力价格扭曲是影响人民币实际汇率的重要因素。
A theoretical model,which introduces labor price distortion to analysis the RMB real estate rate,is built from the perspective of the Balassa-Samuelson( B-S) effect.Panel data of 30 Chinese provinces from 1998 to 2014 are selected to empirically verify influence of labor price distortion on the RMB real exchange rate.Research results show that labor price distortion indeed has a significantly negative influence on the RMB real exchange rate.In other words,numeric increase of labor price distortion will result in depreciation of RMB in reality.The function mechanism can be described as gradual inhibition of actual appreciation of RMB by exerting an influence on the B-S effect.Besides,the region-based panel data also verify existence of the above influence.To sum up,labor price distortion is an important factor influencing the RMB real exchange rate.
出处
《世界经济研究》
CSSCI
北大核心
2018年第1期42-52,共11页
World Economy Studies
