To what Extent is the Chinese Renminbi Undervalued? A Two-Country Model of Monopolistic Competition - Quanto è sottovalutato il Renminbi cinese? Un modello a due paesi di concorrenza monopolistica
Contrast to the BEER, PEER and FEER approaches, this paper develops a two-country model of monopolistic competition to re-examine whether the Chinese Renminbi is undervalued and to what extent it is undervalued. A testable equation that governs the equilibrium exchange rate of Renminbi is derived. Based on US-China data on relative wage rates and relative real GDP, the numerical simulations suggest that relative to the US dollar, the Chinese currency is about 12.4% undervalued for the year of 2011. - In contrasto con gli approcci BEER, PEER e FEER, questo lavoro sviluppa un modello a due paesi di concorrenza monopolistica per riesaminare se il Renminbi è sottovalutato e di quanto. Viene specificata un’equazione che governa il tasso di cambio di equilibrio del Renminbi. Sulla base dei dati USA-Cina sui salari relativi e sui PIL reali relativi, le simulazioni numeriche suggeriscono che nell’anno 2011 la valuta cinese è stata sottovalutata di circa il 12,4% rispetto al dollaro USA.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 65 (2012)
Issue (Month): 4 ()
|Contact details of provider:|| Postal: |
Phone: +39 010 27041
Fax: +39 010 2704222
Web page: http://www.ge.camcom.it/IT/Tool/ModulisticaEmail:
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:ris:ecoint:0672. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Angela Procopio)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.