An Analysis of the Dynamic Asymmetric Impact of the COVID-19 Pandemic on the RMB Exchange Rate
Xing Fang and
Yu Zhang ()
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Yu Zhang: School of Finance, Capital University of Economics and Business, China
Asian Economics Letters, 2021, vol. 1, issue 4, 1-4
In this paper, we assume that the COVID-19 pandemic exerts a time-varying asymmetric impact on the RMB exchange rate. Based on the Taylor rule model, we examine the RMB exchange rate fluctuations around the outbreak of COVID-19. We find that the RMB rate rose steadily before the outbreak but fluctuated during the pandemic. This shows that the pandemic had a transient time-varying impact on the RMB exchange rate.
Keywords: vecm; rmb exchange rate; covid-19 (search for similar items in EconPapers)
JEL-codes: F31 I1 (search for similar items in EconPapers)
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