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Empirical Analysis of NATREX Model on Misalignment of Japanese Yen's Real Exchange Rate
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作者 JIN Zhi-guo 《青岛大学学报(工程技术版)》 CAS 2007年第4期78-81,共4页
Using Natural Real Exchange Rate model and combining with actual economic situations in Japan,we set up equilibrium real exchange rate model of Japanese Yen.Based on the model we assess the misalignment and also analy... Using Natural Real Exchange Rate model and combining with actual economic situations in Japan,we set up equilibrium real exchange rate model of Japanese Yen.Based on the model we assess the misalignment and also analyze its reason since the beginning of Yen's fluctuation.Finally we get conclusions as follows: Yen/Dollar real exchange rate has always been fluctuating acutely.Overvaluation alternates with undervaluation,either of which may last three to five years.Japanese government's too much intervention in nominal exchange rate is a very important factor of the misalignment.Overvaluation does much negative effect on the economy,especially in a period when the economy shrinks due to lacking for domestic consumption demand.In that case,currency crisis will probably soon break out. 展开更多
关键词 经验主义 NATREX模型 日圆 汇兑标准 汇兑比率
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Evaluating China's Exchange Rate Regime
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作者 Charlie Xiao Feng 《China's Foreign Trade》 2008年第7期34-37,共4页
The U.S.in the last couple of years has been up in arms about China's exchange rate regime. In 1994 China established a de facto currency peg.The dollar-RMB ex- change rate was fixed at 8.28.The People's Bank ... The U.S.in the last couple of years has been up in arms about China's exchange rate regime. In 1994 China established a de facto currency peg.The dollar-RMB ex- change rate was fixed at 8.28.The People's Bank of China(PBC)al- lowed the rate a narrow band of around .01 to.02 percent in which it could shift daily.The exchange rate program did not become newsworthy until U.S.Treasury Secretary John Snow's visit in 2003.In fact as a study by Frankel and Wei(2007) showed,the RMB's forward was actually selling at a discount against the dollar prior to Secretary Snow's visit to 展开更多
关键词 中国 外汇政策 人民币升值 汇兑比率
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