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欧元汇率平价探析 被引量：4

欧元汇率平价探析
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摘要 本文试图用实证的方法探讨欧元汇率与购买力平价及利率平价的关系,通过对欧元兑美元的购买力平价、利率平价及误差修正模型的简要分析,我们发现,虽然独自的平价关系难以成立,但综合起来看似乎可行,欧元汇率变动主要取决于欧元与美国的相对物价水平差异,利差对汇率变动有一点影响,但很小。 ThispapertriestouseanempiricalapproachtotesttherelationshipbetweenEuro-USDexchangerateandthepurchasingpowerparity,alsotheinterestrateparty.AfteranalyzingthePPPandtheIRP,andtheErrorCorrectionModel,wehavefoundthatthoughthesingleparitytestisfailed,thecombinetestofparitiesmaybearealway,andtheexchangeratechangeforEuromainlydependsonthedifferencesofthepricelevelbetweentheEuroAreaandtheUnitedStates.Thedif-ferentialofinterestratehasalittleinfluenceonEuro-USDexchangerate.
作者 胡援成 田满文
机构地区 江西财经大学金融学院
出处 《武汉金融》 北大核心 2004年第3期39-41,共3页 Wuhan Finance
关键词 欧元 汇率平价 购买力平价 利率平价 误差修正模型 PPP IRP Cointegration Ecm
分类号 F821 [经济管理—财政学]
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参考文献8

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同被引文献31

  • 1陈春.对欧元汇率走势的剖析[J].企业经济,2005,24(2):142-143. 被引量：4
  • 2赵平.欧元区统一货币政策的适应性及其高通胀成员国的调整机制[J].国际金融研究,2005(8):38-44. 被引量：5
  • 3裴平,吴金鹏.论人民币内外价值偏离[J].经济学家,2006(1):93-99. 被引量：72
  • 4AgnEs Benassy - Quere, Lionel Fontagne, Amina Lahreche - Revil. Exchange - Rate Strategies in the Competition for Attrac- ting Foreign Direct Investment [ J ]. Journal of the Japanese and International Economies,2001 (6) .178 -198.
  • 5Avinash Dixit, Robert S. Pindyck, Sigbjom Sodal. A Markup Interpretation of Optimal Rules for Irreversible Investment [ J ]. NBER Working Paper No. 5971, 1997(3).
  • 6Assaf Razin, Yona Rubinstein, Efraim Sadka. Which Countries Export FDI, and How Much? [ J ]. NBER Working Paper No. 10145, 2003(12).
  • 7Carmen M. Reinhart, Vincent Raymond Reinhart. What Does A G -3 Target Zone Mean for Emerging Market Economics[ J]. Prepared for the CSWEP session at the annual meetings of the American Economics Association,2001 (12).
  • 8Dhanani A, Groves R. The Management of Strategic Exchange Risk. Evidence from Corporate Practices [ J ]. Accounting and Business Research, 2001 (4) . 275 - 290.
  • 9Esquivel G, Larrain F B. The Impact of G- 3 Exchange Rate Volatility on Development Countries[ J]. G -24 Discussion Pa- per, No. 16,2002.
  • 10Farhad Noorbakhsh, Alberto Paloni, Ali Youssef. Human Capital and FDI Inflows to Developing Countries . New EmpiricalEv- idenee [ J ]. World Development, 2001 (9) . 1593 - 1610.

引证文献4

二级引证文献1

武汉金融
2004年 第3期

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