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Research on the choice of RMB exchange rate regime ¨DAnalysis based on the welfare

Author

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  • YAO Bin

    (Headquarters in Shanghai, People¡äs Bank of China, Shanghai 200433, China)

Abstract

From the perspective of welfare, by synthesizing the normative and empirical analysis, this paper applies the framework of ¡°new open economy macroeconomics¡± to the qualitative and quantitative researches on the choice of RMB exchange rate regime in the short and medium run. It sets up the structural model, takes the economical data during 1985¨C2005 to perform both the positive and simulative analysis, and it is shown that: with the increases of international real demand and international price index, in order to improve the welfare of people, the RMB exchange rate regime should be more flexible.

Suggested Citation

  • YAO Bin, 2008. "Research on the choice of RMB exchange rate regime ¨DAnalysis based on the welfare," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 3(3), pages 356-379, September.
    • Handle: RePEc:fec:journl:v:3:y:2008:i:3:p:356-379
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    File URL: http://journal.hep.com.cn/fec/EN/10.1007/s11459-008-0017-5
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    More about this item

    Keywords

    choice of RMB exchange rate regime; new open economy macroeconomics; welfare analysis;
    All these keywords.

    JEL classification:

    • F3 - International Economics - - International Finance
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance

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