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The multiple roles of crop structural change in productivity,nutrition and environment in China:A decomposition analysis
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作者 Xiangyang Zhang Yumei Zhang Shenggen Fan 《Journal of Integrative Agriculture》 SCIE CAS CSCD 2024年第5期1763-1773,共11页
China's crop structure has undergone significant changes in the last two decades since 2000,with an increase in the share of cereals,vegetables,and fruit,squeezing out other crops.As a result,land productivity,nut... China's crop structure has undergone significant changes in the last two decades since 2000,with an increase in the share of cereals,vegetables,and fruit,squeezing out other crops.As a result,land productivity,nutrient supply,and carbon emissions have changed.How to reallocate limited farmland among crops to achieve the multiple goals of agrifood systems becomes an important issue.This study explores the sources of land productivity and nutrition supply growth and carbon emissions reduction,and identifies the multiple roles of crop structural change from 2003 to 2020 based on a decomposition analysis.The results reveal that the growth within crops is still the primary driver in land productivity and nutrition supply and the reduction in carbon emissions.However,structural change also plays various roles at different periods.From 2003 to 2010,crop structural change increased the total calorie supply but lowered land productivity and contributed at least 70%of the total growth of carbon emissions.The crop structure was relatively stable,and their effects were modest from 2010 to 2015.From 2015 to 2020,the crop structural change began to play a greater role and generate synergistic effects in improving land productivity,micronutrient supply,and reducing carbon emissions,contributing to approximately a quarter of the growth of land productivity and 30%of total carbon emissions reduction.These results suggest that strategies for crop structural change should comprehensively consider its multiple impacts,aiming to achieve co-benefits while minimizing trade-offs. 展开更多
关键词 CROP structural change land productivity NUTRITION carbon emissions
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Cointegration analysis with structural changes between consumption and economic growth in China 被引量:3
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作者 郭建平 何建敏 《Journal of Southeast University(English Edition)》 EI CAS 2006年第2期238-241,共4页
In order to investigate the existence of a stable long-run equilibrium relationship between economic growth and consumption in China, the relationship between the gross domestic product (GDP) and consumption in Chin... In order to investigate the existence of a stable long-run equilibrium relationship between economic growth and consumption in China, the relationship between the gross domestic product (GDP) and consumption in China was investigated by the cointegration analysis method. Using the Engle-Granger (EG) test and considering the possibility of structural changes, the impact of external economic shocks on the long-run equilibrium relationship between economic growth and consumption in China was analyzed. Analysis results show that without considering structural changes, the EG test cannot detect cointegration in the series subjected to structural changes; in considering structural changes, cointegration is successfully detected by specifying the dummy variable. In addition, the error correction models were constructed in different periods. This study verifies the existence of a long-run equilibrium relationship between economic growth and consumption in China, and this relationship has significantly changed in 1989 and 1997, respectively. 展开更多
关键词 cointegration with structural changes economic growth dummy variable CONSUMPTION error correction model
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Structural changes and volatility correlation in nonferrous metal market 被引量:1
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作者 吴丹 胡振华 《Transactions of Nonferrous Metals Society of China》 SCIE EI CAS CSCD 2016年第10期2784-2792,共9页
The GARCH and DCC-GARCH models are used to study the volatility aggregation and dynamic relevance of China’s three kinds of nonferrous metals (copper, aluminum and zinc) pricesincorporating structural changes. The ... The GARCH and DCC-GARCH models are used to study the volatility aggregation and dynamic relevance of China’s three kinds of nonferrous metals (copper, aluminum and zinc) pricesincorporating structural changes. The results show that copper, aluminum and zinc returns have many structure breaks points, and nonferrous metals have the greatvolatilityrisk during financial crisis. From the resultsof GARCH with and without structural changes,it isfoundthat the volatility clustering of single nonferrous metal is overvalued when ignoring the structural mutation, and the return of aluminum isthe most overvalued, indicating that aluminum market is more susceptible to external shock.Furthermore,it is also foundthatdynamic volatility correlation exists in the three prices of nonferrous metals, and the structural changes have no significant effect on the volatility correlation of thethree nonferrous metals. 展开更多
关键词 copper ZINC ALUMINUM nonferrous metals price structural changes DCC-GARCH model volatilitydynamic correlation
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Technological Progress,Structural Change and China's Energy Efficiency 被引量:2
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作者 Wang Junsong He Canfei 《Chinese Journal of Population,Resources and Environment》 2009年第2期44-49,共6页
China has witnessed rapid economic development since 1978, and during the time, energy production and consumption developed at a tremendous speed as well. Energy efficiency which can be measured by energy consumption ... China has witnessed rapid economic development since 1978, and during the time, energy production and consumption developed at a tremendous speed as well. Energy efficiency which can be measured by energy consumption per unit of GDP, however, experienced continuous decrease. Theoretically, the change of energy efficiency can be attributed to industry structural change and technological change. In order to explain the transformation of Chinese energy efficiency, we adopt logarithmic mean Divisia index techniques to decompose changes in energy intensity in the period of 1994-2005. We find that technological change is the dominant contributor in the decline of energy intensity, but the contribution has declined since 2001. The change in industry structure has decreased the energy intensity before 1998, but raised the intensity after 1998. Decomposed technological effects for all sectors indicate that technological progresses in high energy consuming industries such as raw chemical materials and chemical products, smelting and pressing of ferrous metals, manufacture of non-metallic mineral products and household contribute are the principal drivers of China's declining energy intensity. 展开更多
关键词 technological change structural change energy efficiency energy intensity
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Multifractal analysis of white matter structural changes on 3D magnetic resonance imaging between normal aging and early Alzheimer's disease 被引量:1
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作者 倪黄晶 周泸萍 +3 位作者 曾彭 黄晓林 刘红星 宁新宝 《Chinese Physics B》 SCIE EI CAS CSCD 2015年第7期155-161,共7页
Applications of multifractal analysis to white matter structure changes on magnetic resonance imaging(MRI) have recently received increasing attentions. Although some progresses have been made, there is no evident s... Applications of multifractal analysis to white matter structure changes on magnetic resonance imaging(MRI) have recently received increasing attentions. Although some progresses have been made, there is no evident study on applying multifractal analysis to evaluate the white matter structural changes on MRI for Alzheimer's disease(AD) research. In this paper, to explore multifractal analysis of white matter structural changes on 3D MRI volumes between normal aging and early AD, we not only extend the traditional box-counting multifractal analysis(BCMA) into the 3D case, but also propose a modified integer ratio based BCMA(IRBCMA) algorithm to compensate for the rigid division rule in BCMA. We verify multifractal characteristics in 3D white matter MRI volumes. In addition to the previously well studied multifractal feature,△α, we also demonstrated △ f as an alternative and effective multifractal feature to distinguish NC from AD subjects.Both △α and △ f are found to have strong positive correlation with the clinical MMSE scores with statistical significance.Moreover, the proposed IRBCMA can be an alternative and more accurate algorithm for 3D volume analysis. Our findings highlight the potential usefulness of multifractal analysis, which may contribute to clarify some aspects of the etiology of AD through detection of structural changes in white matter. 展开更多
关键词 MULTIFRACTAL white matter structural change magnetic resonance imaging Alzheimer's disease
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Effects of mechanical activation on the structural changes and microstructural characteristics of the components of ferruginous quartzite beneficiation tailings 被引量:2
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作者 Ermolovich E.A. Ermolovich O.V. 《International Journal of Mining Science and Technology》 SCIE EI CSCD 2016年第6期1043-1049,共7页
The effects of mechanical activation in a planetary mill on the structural changes and microstructural characteristics of the components of ferruginous quartzite beneficiation railings generated by wet magnetic separa... The effects of mechanical activation in a planetary mill on the structural changes and microstructural characteristics of the components of ferruginous quartzite beneficiation railings generated by wet magnetic separation process were studied using X-ray and laser diffraction methods. The results revealed the relationship between variations in the mean particle size of activated powders and the milling time. The crystallite size, microstrain, lattice parameters and unit cell volumes were determined for different milling times in powder samples of quartz, hematite, dolomite, and magnetite from the beneficiation tailings. The main trends in the variation of the crystallite size of quartz, hematite, dolomite, and magnetite as a function mean particle size of powder samples were revealed. Changes in the particle shape as a function of the activation time was also investigated. 展开更多
关键词 Ferruginous quartzite beneficiation tailings Mechanical activation Crystallites Planetary mill Microstructure structural changes
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Industrial Structural Changes in Hong Kong,China under One Country,Two Systems Framework
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作者 Simon Xiaobin ZHAO Carola B RAMóN-BERJANO 《Chinese Geographical Science》 SCIE CSCD 2012年第3期302-318,共17页
Hong Kong has undergone substantial economic transformations and developed into a sophisticated busi- ness and financial center in the Asia-Pacific region, since the return of sovereignty to China as a Special Adminis... Hong Kong has undergone substantial economic transformations and developed into a sophisticated busi- ness and financial center in the Asia-Pacific region, since the return of sovereignty to China as a Special Administrative Region under the One Country Two Systems (OCTS) in 1997. This paper discusses and analyzes the industrial struc- tural changes of Hong Kong in recent decades as well as its future challenges and opportunities, The data and finding reveal that even though Hong Kong will face fierce competition from the Mainland's cities as the rise of China, the important role as a bridge between China and the rest of the world wilt brace Hong Kong itself under the OCTS for developing into a service hub for business and trade in the Asia-Pacific region. 展开更多
关键词 economic transformation Hong Kong industrial structural changes One Country Two Systems
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Temperature-induced anomalous structural changes of Al-12wt.%Sn-4wt.%Si melt and its influence on as-cast structure
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作者 Wang Zhiming Geng Haoran +2 位作者 Zhou Guorong Guo Zhongquan Teng Xinying 《China Foundry》 SCIE CAS 2010年第2期138-142,共5页
The temperature dependence of the viscosity of liquid Al-12wt.%Sn-4wt.%Si was studied with a hightemperature viscosity apparatus.Anomalous changes of viscosity of the melt were found at 1,103 K and 968 K in the coolin... The temperature dependence of the viscosity of liquid Al-12wt.%Sn-4wt.%Si was studied with a hightemperature viscosity apparatus.Anomalous changes of viscosity of the melt were found at 1,103 K and 968 K in the cooling process,which indicates anomalous structural changes of the melt.It is calculated that the anomalous structural change is associated with an abrupt decrease of atomic clusters'size and activation energy in the melt.According to the temperature of the anomalous structural changes,melt heat treatment process(quenching from superheat to pouring temperature) was performed on Al-12wt.%Sn-4wt.%Si melt prior to pouring,aimed to keep the small atomic clusters from higher temperature to lower pouring temperature.The results suggest that relatively small atomic clusters at the pouring temperature in the melt could generate a deep under-cooling of nucleation in the subsequent solidification process,and refine the as-cast structure.After being quenched from superheating to pouring temperature,the relatively small atomic clusters,especially the Si-Si clusters in the melt will grow to equilibrium state(relatively big atomic clusters) with holding time,resulting in the prominent coarsening of the Si morphology in the as-cast structure. 展开更多
关键词 melt heat treatment viscosity Al-Sn-Si structural change
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Structural Changes of Activated Carbon Electrodes for EDLCs in the Manufacturing Process
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作者 Bin Yang Dianbo Ruan +2 位作者 Yang Zhang Chengyang Wang Zhijun Qiao 《Transactions of Tianjin University》 EI CAS 2020年第5期391-398,共8页
Supercapacitors,or electric double-layer capacitors(EDLCs),are the new generation of energy storage devices to store electrical charges and provide high power densities and long cyclic life compared to other storage d... Supercapacitors,or electric double-layer capacitors(EDLCs),are the new generation of energy storage devices to store electrical charges and provide high power densities and long cyclic life compared to other storage devices.EDLC mainly consists of activated carbon electrodes and an electrolyte,and the performance of EDLC depends on the activated carbon electrodes.In this work,the structural changes of activated carbon electrodes are analyzed using commercial 2.7 V/9500F EDLCs in its manufacturing process.It is found that there is no significant change in morphology and crystal structure of the activated carbon,but its specific surface area(SSA)reduced greatly.The SSA of activated carbon was decreased by 23%after they were manufactured or converted into electrodes and finally retained only 40%of SSA after the capacitance test.Besides,the SSA of the positive electrodes was found to decrease critically than that of the negative electrodes.The SSA of the external positive electrodes is only 14.3%after fl oating test at 65℃. 展开更多
关键词 ELECTRODE EDLCs Pore structure Activated carbon structural change
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Studies on Structural Changes of Collagen in Silicosis
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作者 LIYU-RUI HUXUN 《Biomedical and Environmental Sciences》 SCIE CAS CSCD 1994年第4期302-306,共5页
In order to provide scientific information on the prevention and treatment of silicosis,studies about changes of silicotic collagen in lungs were carried out. In this paper, we present experiments about the structural... In order to provide scientific information on the prevention and treatment of silicosis,studies about changes of silicotic collagen in lungs were carried out. In this paper, we present experiments about the structural changes of collagen in silicotic lungs of rats and patients. These included electron microscopy, circular dichroism and infrared spectroscopy studies of collagen fibers. The results indicated that fibers of silicotic collagen were shorter in length, smaller in diameter and decreased in α-helix content. The -Si-O-R- group and -OH group were found increased and -C-C- backbone shortened. The increase of -Si-O-R-group indicated that silica formed linking bridges between collagens which may be the cause of progressive enlargement of nodules 展开更多
关键词 SI In Studies on structural changes of Collagen in Silicosis
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Study of Local Structural Changes on Air Cooling at the End of Rotor Windings for Variable Speed Pumped Storage Generator-Motor
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作者 Yanliang Qiu Bin Xiong +1 位作者 Zhe Hou Lin Luo 《Energy Engineering》 EI 2022年第6期2243-2254,共12页
The shrink fit retaining ring is currently the easiest to install and the most widely used end fixed for structure AC excitation variable speed generator-motor rotor end windings.However,the current research on the ef... The shrink fit retaining ring is currently the easiest to install and the most widely used end fixed for structure AC excitation variable speed generator-motor rotor end windings.However,the current research on the effect of high strength sealing on the ventilation and heat dissipation performance of the end is not enough.In this paper,based on the actual structural parameters and periodic symmetry simplification,the three-dimensional coupled calculation model of fluid field and temperature field is established.After solving the fluid and thermal equations,the influence of the length of rotor support block,the height of rotor support block,and the number of rotor support block on the fluid flow and temperature distribution in the rotor end region of generator-motor is studied using the finite volume method.The rheological characteristics of the air in the rotor domain,such as velocity and inter-winding flow,are analyzed.The law of temperature variation with local structure in the computational domain is studied.The variation law of cooling medium performance inside the large variable speed power generator motor is revealed. 展开更多
关键词 Pumped storage plants GENERATOR-MOTOR local structural changes rotor windings end
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High Resolution Electron Microscopy Observations of Structural Changes in Iron Nitride Films Annealed in Vacuum
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作者 Shengkai GONG Huibin XU (Dept. of Materials Science and Engineering, Beijing University of Aeronautics and Astronautics, Beijing 100083, China) 《Journal of Materials Science & Technology》 SCIE EI CAS CSCD 1997年第2期123-126,共4页
Iron-nitride films were prepared by reactive sputtering, and the effect of annealing treatment on the structures was investigated by means of in-situ electron microscopy and high resolution electron microscopy (HREM).... Iron-nitride films were prepared by reactive sputtering, and the effect of annealing treatment on the structures was investigated by means of in-situ electron microscopy and high resolution electron microscopy (HREM). As-deposited films were observed to be a mixed structure of a few ultrafine epsilon-Fe2-3N particles existing in the amorphous matrix. it was found that the structure-relaxation in the amorphous occurred at 473 K, and the ultrafine grains began to grow at the higher annealing temperatures. The transition of the amorphous to epsilon-Fe2-3N was almost completed at 673 K. It is considered that the formation of the ideal epsilon-Fe3N is originated from the ordering of the nitrogen atoms during the annealing in vacuum. On the other hand, gamma'-phase (Fe4N) was seen to precipitation of epsilon-phase at 723 K. Two possible modes are proposed in the precipitation of gamma'-phase, depending on the heating rate and crystallographic orientation relationships, i.e. [121](epsilon)//[001](gamma), (2(1) over bar0$)(epsilon)//(110)(gamma) and [100](epsilon)//[110](gamma), (001)(epsilon)//(111)(gamma). In addition, alpha-Fe particles were observed to form from the gamma'-phase at high temperatures. We assumed that these structural changes are due to the diffusion of nitrogen and iron atoms during the annealing, except for the case of the precipitation of the gamma'-phase as depicted above. The results obtained in this work are in a good agreement with the assumption. 展开更多
关键词 FIGURE High Resolution Electron Microscopy Observations of structural changes in Iron Nitride Films Annealed in Vacuum
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Artificial Intelligence,Structural Change and Labor Income Share
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作者 Guo Kaiming 《China Economist》 2021年第6期98-115,共18页
Artificial intelligence(AI)is a strategic technology that leads a new round of technological revolution and structural transformation.This paper studies the effects of AI on structural change and factor income shares.... Artificial intelligence(AI)is a strategic technology that leads a new round of technological revolution and structural transformation.This paper studies the effects of AI on structural change and factor income shares.As a general purpose technology and new infrastructure,AI may substitute either labor or capital and its application has differential prospects across sectors.With a multi-sector general dynamic equilibrium model,we find that AI services or AI-specific technologies will reallocate factors between sectors.The direction of the reallocation depends on sectoral differences in the output elasticity of AI and in the elasticity of substitution between AI and traditional modes of production.The process of structural change will in turn change the labor income share.This paper presents the theoretical conditions for the direction of these changes and the underlying economic mechanism.We derive policy implications about how to promote high-quality development with AI. 展开更多
关键词 artificial intelligence(AI) structural change labor income share new infrastructure
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Effects of Infrastructure Investment on Structural Change and Productivity Growth in China
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作者 Guo Kaiming Wang Tengqiao 《China Economist》 2020年第5期108-123,共16页
The rapid growth of infrastructure investment is a salient feature of China’s economy since the reform and opening-up in 1978,contributing to not only the aggregate demand but also the structural change and productiv... The rapid growth of infrastructure investment is a salient feature of China’s economy since the reform and opening-up in 1978,contributing to not only the aggregate demand but also the structural change and productivity growth on the supply-side.This paper builds a multi-sector general equilibrium model to show how infrastructure investment influences structural change through price,investment and income effects,and influences productivity growth through the intensive and extensive marginal effects.By quantifying the model with China’s economy for the period 1981-2017,the paper finds that the infrastructure investment restrained the rise of services,but boosted productivity growth over the period.The policy implication is that China should ramp up infrastructure investment to increase productivity as it pursues high-quality development,but give priority to new infrastructure and public-interest infrastructure to promote industrial structural upgrade. 展开更多
关键词 structural change infrastructure investment labor productivity
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A Fluctuation Test for Structural Change Detection in Heterogeneous Panel Data Models
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作者 LI Fuxiao XIAO Yanting CHEN Zhanshou 《Journal of Systems Science & Complexity》 SCIE EI CSCD 2024年第3期1184-1208,共25页
Structural change in panel data is a widespread phenomena. This paper proposes a fluctuation test to detect a structural change at an unknown date in heterogeneous panel data models with or without common correlated e... Structural change in panel data is a widespread phenomena. This paper proposes a fluctuation test to detect a structural change at an unknown date in heterogeneous panel data models with or without common correlated effects. The asymptotic properties of the fluctuation statistics in two cases are developed under the null and local alternative hypothesis. Furthermore, the consistency of the change point estimator is proven. Monte Carlo simulation shows that the fluctuation test can control the probability of type I error in most cases, and the empirical power is high in case of small and moderate sample sizes. An application of the procedure to a real data is presented. 展开更多
关键词 Common correlated effects fuctuation test heterogeneous panel data models structural change detection
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Industrial Structural Change and Economic Growth in China, 1987-2008 被引量:5
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作者 Jingfeng Zhao Jianmin Tang 《China & World Economy》 SCIE 2015年第2期1-21,共21页
The present paper studies the sources of economic growth and the nature of structural change in the Chinese economy from 1987 to 2008. Using a methodology that evaluates the contribution o fan industry to economic gro... The present paper studies the sources of economic growth and the nature of structural change in the Chinese economy from 1987 to 2008. Using a methodology that evaluates the contribution o fan industry to economic growth, the present paper shows that the post-2000 subperiod marked an increased reliance on the services sector as a source of growth in the Chinese economy. Much of the acceleration in real GDP or aggregate labor productivity growth in China in the post-2000 subperiod compared to the pre-2000 period can be traced to an increased contribution from service-producing and high-technology exporting manufacturing industries. The evidence indicates that the Chinese economy has been rebalancing toward domestic consumption and shifting its export sector toward high- technology manufacturing industries. 展开更多
关键词 aggregate labor productivity growth economic growth industry contribution industrial structural change
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The Future is in the Past: Projecting and Plotting the Potential Rate of Growth and Trajectory of the Structural Change of the Chinese Economy for the Next 20 Years 被引量:4
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作者 Jun Zhang Liheng Xu Fang Liu 《China & World Economy》 SCIE 2015年第1期21-46,共26页
Based on the convergence hypothesis and referring to the experience of East Asian high-performing economies from 1950 to 2010, this paper projects and plots the potential growth rate of the Chinese economy over the ne... Based on the convergence hypothesis and referring to the experience of East Asian high-performing economies from 1950 to 2010, this paper projects and plots the potential growth rate of the Chinese economy over the next 20years. It predicts that the potential growth rate of per capita GDP adjusted by purchasing power parity averages at 6. 02 percent from 2015 to 2035, while the potential GDP growth rate of 2015 would still be above 8percent, which implies that the realized rate of growth has not reached its potential since 2012. Besides, based on the per capita GDP projected and on cross -country comparison, the paper plots the trajectory of structural change of the Chinese economy from 2015 to 2035. The result shows that: (i) the value-added share of primary industry will drop more rapidly than the employment share; (ii) the value-added share of secondary industry will decline and employment share will present an inverted U shape whose turning point will probably come between 2020 and 2025; (iii) both the value-added and employment share of tertiary industry will increase continuously. 展开更多
关键词 Asian economies convergence economic growth structural change the Chinese economy
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Oxidation Kinetics,Structural Changes and Element Migration during Oxidation Process of Vanadium-titanium Magnetite Ore 被引量:2
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作者 Feng PAN Qing-shan ZHU +1 位作者 Zhan DU Hao-yan SUN 《Journal of Iron and Steel Research International》 SCIE EI CAS CSCD 2016年第11期1160-1167,共8页
The oxidation kinetics, structural changes, and elements migration during the oxidation process of the va- nadium-titanium magnetite (VTM) ore were analyzed. Kinetics analysis indicated that the oxidation process wa... The oxidation kinetics, structural changes, and elements migration during the oxidation process of the va- nadium-titanium magnetite (VTM) ore were analyzed. Kinetics analysis indicated that the oxidation process was con- trolled by diffusion control and could be divided into interface diffusion and lattice diffusion with apparent activation energy of 99.69 kJ/mol and 144.08 kJ/mol in the range of 800--1000℃, respectively. The surface structure changed with the oxidization temperature as follows: dense surface→nano sized sheets→submicron particles→molten particles. The compact structure changed into porous one because of the elements migration and enrichment. Both Fe and Ti elements migrated in the opposite direction during the oxidation process. The V etement in the raw ore stably existed in the form of V^5+ state, some vanadium migrated and occupied the tetrahedral sites of the hematite during the oxidation process. 展开更多
关键词 vanadium-titanium magnetite ore OXIDATION KINETICS structural change element migration
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Labor Market Dynamics and Structural Change: Evidence from China 被引量:2
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作者 Rui Mao Jianwei Xu 《China & World Economy》 SCIE 2015年第4期60-83,共24页
Structural change theories usually assume agents are homogeneous. However, because of demand-side or supply-side heterogeneities, the probability of switching among sectors differs across people. This paper reveals th... Structural change theories usually assume agents are homogeneous. However, because of demand-side or supply-side heterogeneities, the probability of switching among sectors differs across people. This paper reveals these differences through restoring a long-period, individual-level panel dataset from China's Urban Household Survey for 1986-2009. We find that both for people who started working for the first time and those who switched jobs, the sector choice depends on personal characteristics. In particular, women and people with higher educational attainment or a previous white- collar job are more likely to join the tertiary sector and less likely to join the primary sector. These effects are substantial even if the macroeconomic variables used in conventional structural change theories are controlled. They are also robust in various periods and at more detailed industry levels. Our research suggests that it is important to pay greater attention to the labor composition when mal^ng policy related to economic structural change. 展开更多
关键词 labor market dynamics personal characteristics sectoral switch structural change
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Structural Changes in the Renminbi Exchange Rate Mechanism 被引量:1
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作者 Guanyu Su Junhui Qian 《China & World Economy》 SCIE 2021年第2期1-23,共23页
This paper examines structural changes in China s exchange rate mechanism.For this purpose,we propose a predictive model incorporating three factors that influence the central parity rate:a smoothing factor,a market f... This paper examines structural changes in China s exchange rate mechanism.For this purpose,we propose a predictive model incorporating three factors that influence the central parity rate:a smoothing factor,a market factor,and a basket factor.We first apply the model to analyze the effects of 12 exchange rate reforms since 2005,treating these reforms as predetermined structural breaks.Among other results,we find that the main impact of introducing a“counter-cyclical factor”is to weaken the role of the basket factor.We estimate structural breaks in data,assuming that the number and dates of breaks are unknown,and we find that,although the majority of estimated breaks occur within the neighborhood of exchange rate reforms,there are breaks due to other external shocks such as the escalation of the China-US trade conflict in May 2019.It is suggested that our model may be used to guide future currency reforms in China. 展开更多
关键词 central parity rate exchange rate reform RMB structural change
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