Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/111163 
Year of Publication: 
2005
Series/Report no.: 
ADBI Research Paper Series No. 70
Publisher: 
Asian Development Bank Institute (ADBI), Tokyo
Abstract: 
For the past several years, the revaluation of the renminbi has been a hot topic among policy makers and economists as well as market participants inside and outside the PRC against the background of internal and external disequilibrium of the PRC economy. Based upon the history of the exchange rate system, current arguments made by various stakeholders, and surveys of different theoretical approaches, the authors develop a two-country general equilibrium model to determine the exchange rate, taking particular account of the implications of price rigidity for the policy independence of each country. An empirical test is also introduced to identify the current degree of misalignment of the renminbi compared to its estimated equilibrium rate.
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Working Paper

Files in This Item:
File
Size
999.93 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.