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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

Abstract: 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)
Date: 2021
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Asian Economics Letters is currently edited by Chun-Ping Chang (Shih Chien University, Taiwan) and Professor Chien-Chiang Lee (Nanchang University, China)

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