人民币均衡汇率估计:购买力平价方法  

Estimating Equilibrium Exchange Rate of RMB/Dollar:A Method of Purchasing Power Parity

作　　者：杨炘[1] 窦祥胜[1] 

机构地区：[1]清华大学经济管理学院,北京100084

出　　处：《科学技术与工程》2004年第2期140-142,共3页Science Technology and Engineering

基　　金：国家自然科学基金(70173006)

摘　　要：检验了人民币与美元汇率的购买力平价方法的应用条件是否成立,并利用购买力平价方法估计了人民币和美元的均衡汇率。估计结果表明,1985年以前人民币汇率存在长期高估的现象,1985年以后则出现高估和低估交替出现的现象,并且人民币高估或低估的平均幅度有所缩小。说明,人民币汇率已经进入一个相对稳定的变化发展阶段。The purchasing power parity (PPP) of Renminbi (RMB)/Dollar is tested, and estimated the equilibrium exchange rate of RMB/Dollar, resorting to PPP means. The estimated outcome indicates RMB exchange rate was o-vervalued before 1985, and the overvalued and the undervalued happen alternately and the average deviation has been somewhat decreased after 1985. Meanwhile, it also implies that RMB exchange rate has entered into the phase of relative steady.

关 键 词：人民币 均衡汇率 购买力 平价方法 美元 

分 类 号：F832.6[经济管理—金融学] F822