Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/25963
Authors: 
Cheung, Yin-Wong
Chinn, Menzie D.
Fujii, Eijii
Year of Publication: 
2007
Series/Report no.: 
CESifo working paper 1918
Abstract: 
We evaluate whether the Renminbi (RMB) is misaligned, relying upon conventional statistical methods of inference. A framework built around the relationship between relative price and relative output levels is used. We find that, once sampling uncertainty and serial correlation are accounted for, there is little statistical evidence that the RMB is undervalued. The result is robust to various choices of country samples and sample periods, as well as to the inclusion of control variables.
JEL: 
F31
F41
Document Type: 
Working Paper

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