China’s Equilibrium Real Exchange Rate: A Counterfactual Analysis
Description
China’s maintenance of a de facto peg against the US dollar during the Asian crisis caused a realignment of exchange rates in the Asian region. This paper explores the “equilibrium” level of China’s real effective rate in the lead-up and during that crisis. A derivative of the Devarajan-Lewis-Robinson three-good general equilibrium model is employed to estimate time paths of the equilibrium real effective exchange rate under a variety of assumptions about the balance of trade. Key requirements...[Show more]
Collections | ANU Research Publications |
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Date published: | 2001 |
Type: | Working/Technical Paper |
URI: | http://hdl.handle.net/1885/40504 http://digitalcollections.anu.edu.au/handle/1885/40504 |
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File | Description | Size | Format | Image |
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wp390.pdf | 122.04 kB | Adobe PDF |
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