人民币兑美元汇率波动区间设定——基于货币冲击视角  

The Fluctuation Bands of RMB Exchange Rate Against USD: Based on Money Shocks

作　　者：崔红宇[1] 万志宏[2] 

机构地区：[1]天津财经大学中国滨海金融协同创新中心 [2]天津城建大学

出　　处：《世界经济研究》2016年第4期22-30,134,共9页World Economy Studies

摘　　要：最优汇率波动区间的设定与一国经济的基本特征、货币政策独立性、资本账户开放程度以及外生冲击的性质和大小密切相关。人民币汇率在走向自由浮动的过程中,如何通过设置汇率波动区间以达到兼顾内外均衡、协调资本账户开放进程以及抵御货币冲击的研究具有重要的现实意义。文章构建了一个开放经济体的简约模型,求解在资本市场外生冲击下人民币兑美元汇率的最优波动区间,并以此对人民币汇率波动区间的变化和未来设置提供参考。The optimal fluctuation bands of exchange rate have relations with economic essential parameters,the independence of monetory policy,the degree of capital account opening and exogenous shocks. The study on fluctuation bands of RMB exchange rate is important in order to obtain internal and external equilibrium,to adjust the course of capital account opening,and to resist money shocks. The paper composed an open economy's concise model to solve the optimal bands of RMB exchange rate against USD.We hope the paper be instructive to the changes and future setting of Renminbi exchang rate bands.

关 键 词：汇率波动区间 货币政策独立性 外生冲击 

分 类 号：F832.6[经济管理—金融学]