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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/25963
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| Title: | | The overvaluation of Renminbi undervaluation  |
| Authors: | | Cheung, Yin-Wong Chinn, Menzie D. Fujii, Eijii |
| Issue Date: | | 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 |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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