The Chinese Yuan after the Chinese Exchange Rate System Reform Export

@article{citeulike:605519, abstract = {In this paper, we investigate the actual exchange rate policy conducted by the Chinese government after the Chinese exchange rate system reform on July 21 2005. Also, we investigate long-run effect (Balassa-Samuelson effect) on the Chinese yuan. We found that the Chinese government had a statistically significant but small change in exchange rate policy during our sample period to January 25, 2006. It is not identified that the Chinese monetary authority is adopting the currency basket system because the change is too small in the economic sense. On one hand, higher growth rate of productivity will appreciate the Chinese yuan in terms of the US dollar and the Japanese yen while higher growth rates of productivity in Chinese tradable good sector tend to give the Balassa-Samuleson effect, that is undervaluation bias, to the Chinese yuan.}, author = {Ogawa, Eiji and Sakane, Michiru}, citeulike-article-id = {605519}, citeulike-linkout-0 = {http://econpapers.repec.org/paper/etidpaper/06019.htm}, journal = {Discussion papers from Research Institute of Economy, Trade and Industry (RIETI)}, keywords = {bop, china, fx}, month = {April}, posted-at = {2006-04-28 09:16:14}, priority = {2}, title = {The Chinese Yuan after the Chinese Exchange Rate System Reform}, url = {http://econpapers.repec.org/paper/etidpaper/06019.htm}, year = {2006} }

TY - JOUR ID - citeulike:605519 L3 - citeulike-article-id:605519 N2 - In this paper, we investigate the actual exchange rate policy conducted by the Chinese government after the Chinese exchange rate system reform on July 21 2005. Also, we investigate long-run effect (Balassa-Samuelson effect) on the Chinese yuan. We found that the Chinese government had a statistically significant but small change in exchange rate policy during our sample period to January 25, 2006. It is not identified that the Chinese monetary authority is adopting the currency basket system because the change is too small in the economic sense. On one hand, higher growth rate of productivity will appreciate the Chinese yuan in terms of the US dollar and the Japanese yen while higher growth rates of productivity in Chinese tradable good sector tend to give the Balassa-Samuleson effect, that is undervaluation bias, to the Chinese yuan. JF - Discussion papers from Research Institute of Economy, Trade and Industry (RIETI) TI - The Chinese Yuan after the Chinese Exchange Rate System Reform KW - bop KW - china KW - fx AU - Ogawa, Eiji AU - Sakane, Michiru PY - 2006/04// UR - http://econpapers.repec.org/paper/etidpaper/06019.htm ER -