An empirical analysis of China's equilibrium exchange rate: A co-integration approach

Christopher Gan, Bert Ward, Su Ting Ting and David A. Cohen

Journal of Asian Economics, 2013, vol. 29, issue C, 33-44

Abstract: This paper estimates time specific values for China's long-run equilibrium exchange rate and develops measures of the direction and extent of misalignment based on a reduced-form real effective exchange rate (REER) model. An appropriately specified long-run equilibrium model is estimated and tested following Johansen and Juselius (1990) procedures, which is then used to construct an estimated time path for long-run equilibrium exchange rate values.

Keywords: Chinese exchange rate; Misalignment; Cointegration; Error correction model (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:asieco:v:29:y:2013:i:c:p:33-44

DOI: 10.1016/j.asieco.2013.08.005

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