人民币内向均衡实际汇率与错位测算：1997-2007

统计研究 ›› 2009, Vol. 26 ›› Issue (3): 8-16.

人民币内向均衡实际汇率与错位测算：1997-2007

陈云陈浪南林伟斌

收稿日期:1900-01-01 修回日期:1900-01-01 出版日期:2009-03-15 发布日期:2009-03-15

Estimating RMB internal equilibrium real exchange rate and misalignment from 1997 to 2007

Chen Yun Chen Langnan Lin Weibin

Received:1900-01-01 Revised:1900-01-01 Online:2009-03-15 Published:2009-03-15

摘要/Abstract

摘要： 本文基于行为均衡汇率(BEER)理论，运用边限协整检验方法，测算了1997年1月—2007年12月期间人民币内向实际汇率均衡水平和错位程度。实证结果表明：人民币内向实际汇率在大部分时间里错位，不过总体而言错位并不严重。

Abstract: Based on behavior equilibrium exchange rate(BEER) theory, this paper using bounds test technique to estimate RMB internal equilibrium real exchange rate and misalignment during the period from January 1997 to December 2007. The result shows that there’s misalignment of RMB internal real exchange rate in most period of sample spacing, while the misalignment is not very seriously.

Key words: RMB internal real exchange rate, Equilibrium exchange rate, Exchange rate misalignment, Bounds test

陈云陈浪南林伟斌 . 人民币内向均衡实际汇率与错位测算：1997-2007[J]. 统计研究, 2009, 26(3): 8-16.

Chen Yun Chen Langnan Lin Weibin. Estimating RMB internal equilibrium real exchange rate and misalignment from 1997 to 2007[J]. Statistical Research, 2009, 26(3): 8-16.