The Equilibrium RMB Exchange Rate Reconsideration in Edwards Model

Jimmy RAN

The Equilibrium RMB Exchange Rate Reconsideration in Edwards Model

Jimmy RAN

Lingnan University

Research output: Other Conference Contributions › Conference Paper (other) › Other Conference Paper › peer-review

Abstract

This paper empirically extends the Edwards (1988) framework in search of the equilibrium RMB exchange rate. His model is based on the balance of the internal and external factors and provides a list of the relevant real “fundamentals” that determine the behavior of the equilibrium real exchange rate for developing countries. I modify his equations to incorporate some Chinese special characteristics by inserting unemployment and foreign reserves, I find that RMB should have depreciated for the convergence of the equilibrium level.

Original language	English
Publication status	Published - Dec 2014
Event	The 8th Biennial Conference of Hong Kong Economic Association - Shandong University, Jinan, China Duration: 13 Dec 2014 → 14 Dec 2014 http://www.hkea.org.hk/index.php/events/biennial-conference/9-events/31-8th-conf

Conference

Conference	The 8th Biennial Conference of Hong Kong Economic Association
Country/Territory	China
City	Jinan
Period	13/12/14 → 14/12/14
Other	The Hong Kong Economic Association and Shangdong University
Internet address	http://www.hkea.org.hk/index.php/events/biennial-conference/9-events/31-8th-conf

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Cite this

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title = "The Equilibrium RMB Exchange Rate Reconsideration in Edwards Model",

abstract = "This paper empirically extends the Edwards (1988) framework in search of the equilibrium RMB exchange rate. His model is based on the balance of the internal and external factors and provides a list of the relevant real “fundamentals” that determine the behavior of the equilibrium real exchange rate for developing countries. I modify his equations to incorporate some Chinese special characteristics by inserting unemployment and foreign reserves, I find that RMB should have depreciated for the convergence of the equilibrium level.",

author = "Jimmy RAN",

year = "2014",

month = dec,

language = "English",

note = "The 8th Biennial Conference of Hong Kong Economic Association ; Conference date: 13-12-2014 Through 14-12-2014",

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PY - 2014/12

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N2 - This paper empirically extends the Edwards (1988) framework in search of the equilibrium RMB exchange rate. His model is based on the balance of the internal and external factors and provides a list of the relevant real “fundamentals” that determine the behavior of the equilibrium real exchange rate for developing countries. I modify his equations to incorporate some Chinese special characteristics by inserting unemployment and foreign reserves, I find that RMB should have depreciated for the convergence of the equilibrium level.

AB - This paper empirically extends the Edwards (1988) framework in search of the equilibrium RMB exchange rate. His model is based on the balance of the internal and external factors and provides a list of the relevant real “fundamentals” that determine the behavior of the equilibrium real exchange rate for developing countries. I modify his equations to incorporate some Chinese special characteristics by inserting unemployment and foreign reserves, I find that RMB should have depreciated for the convergence of the equilibrium level.

M3 - Conference Paper (other)

T2 - The 8th Biennial Conference of Hong Kong Economic Association

Y2 - 13 December 2014 through 14 December 2014

ER -