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RMB Exchange Rate and Local Currency Price Stability : The Case of China and ASEAN+3

  • Xiao Bing Feng

    (AJRC)

Registered author(s):

    This paper uses Chinese and ASEAN+3 industry panel data to measure variations in mark-up adjustment behaviour that is associated with the exchange rate changes across export destination markets. Exports that are substitutes for local products exhibit a high degree of mark-up adjustment, which has the effect of stabilising prices in export destination countries. There is evidence of this behaviour in certain export products to China where the Chinese Government provides subsidies. When markup adjustment behaviour exists, the short-term dynamic mark-up adjustments are consistent with the long-term pricing behaviour in source countries.

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    File URL: http://130.56.61.71/node/21976
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    Paper provided by East Asian Bureau of Economic Research in its series Macroeconomics Working Papers with number 21976.

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    Date of creation: Jan 2006
    Date of revision:
    Handle: RePEc:eab:macroe:21976
    Contact details of provider: Postal: JG Crawford Building #13, Asia Pacific School of Economics and Government, Australian National University, ACT 0200
    Web page: http://www.eaber.org

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