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The determination of China's equilib...

Jin, Zhongxia.

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The determination of China's equilibrium exchange rate during the transition period: A real exchange rate approach.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	The determination of China's equilibrium exchange rate during the transition period: A real exchange rate approach./
Author:	Jin, Zhongxia.
Description:	201 p.
Notes:	Chairperson: Byron Gangnes.
Contained By:	Dissertation Abstracts International57-11A.
Subject:	Economics, Finance. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9713955
ISBN:	0591216647

The determination of China's equilibrium exchange rate during the transition period: A real exchange rate approach.
Jin, Zhongxia.

The determination of China's equilibrium exchange rate during the transition period: A real exchange rate approach. - 201 p.

Chairperson: Byron Gangnes.

Thesis (Ph.D.)--University of Hawaii, 1996.

This dissertation studies the determination of equilibrium exchange rate in China. It encompasses both development of a theoretical model and empirical application of that framework to the recent Chinese experience. The purpose is to find a way to achieve both internal and external balance during China's economic transition.

ISBN: 0591216647Subjects--Topical Terms:

626650
Economics, Finance.

The determination of China's equilibrium exchange rate during the transition period: A real exchange rate approach.
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005 20110509
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035 $a (UnM)AAI9713955
035 $a AAI9713955
040 $a UnM $c UnM
100 1 $a Jin, Zhongxia. $3 1257711
245 1 0 $a The determination of China's equilibrium exchange rate during the transition period: A real exchange rate approach.
300 $a 201 p.
500 $a Chairperson: Byron Gangnes.
500 $a Source: Dissertation Abstracts International, Volume: 57-11, Section: A, page: 4843.
502 $a Thesis (Ph.D.)--University of Hawaii, 1996.
520 $a This dissertation studies the determination of equilibrium exchange rate in China. It encompasses both development of a theoretical model and empirical application of that framework to the recent Chinese experience. The purpose is to find a way to achieve both internal and external balance during China's economic transition.
520 $a This study extends the existing literature on real exchange rates by (among others) G. Calvo, C. Rodriguez and S. Edwards. Parameters reflecting the structural changes during China's transition are built into the model. Thus the model can be used to study the effect of structural change on the exchange rate. This study also estimates a dynamic system using time-series analysis. With that the author can calculate the equilibrium exchange rate and estimate the extent of exchange rate misalignment. An examination of this misalignment, combined with an historical analysis, enables the author to evaluate the causes of misalignment. Finally, an impulse response analysis helps the author to study the relationship between the exchange rate, the money supply, and the domestic price level.
520 $a The theoretical model shows that; the structural parameters are part of the real fundamentals that determines the equilibrium exchange rate. The equilibrium exchange rate is in continuous change because of the changing fundamentals. The market-determined exchange rate may differ from the equilibrium rate, and tends toward that rate (which itself is evolving) over time.
520 $a The empirical work confirms the important roles of structural changes, the amount of net capital inflows, the terms of trade, and industrial productivity in determining the equilibrium exchange rate. The analysis of the exchange rate misalignment has provided some evidence of the sources of macroeconomic imbalances experienced by China's economy in the past quarter century. It shows that external shocks and internal structural changes are the major forces that can change the equilibrium exchange rate. The monetary policy and nominal exchange rate policy that are inconsistent with these fundamental changes will cause exchange rate misalignment.
590 $a School code: 0085.
650 4 $a Economics, Finance. $3 626650
650 4 $a Economics, General. $3 1017424
650 4 $a Economics, History. $3 1017418
650 4 $a History, Asia, Australia and Oceania. $3 626624
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690 $a 0509
710 2 0 $a University of Hawaii. $3 1250246
773 0 $t Dissertation Abstracts International $g 57-11A.
790 $a 0085
790 1 0 $a Gangnes, Byron, $e advisor
791 $a Ph.D.
792 $a 1996
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9713955