Beyond cheap talks: Assessing the undervaluation of the chinese currency between 1994 and 2007 (notice n° 594008)
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| fixed length control field | 02594cam a2200289 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250121150730.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Chen, Jinzhao |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Beyond cheap talks: Assessing the undervaluation of the chinese currency between 1994 and 2007 |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2010.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 30 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | RésuméRecourant à l’approche comportementale du taux de change d’équilibre (BEER), cet article estime le taux de change réel d’équilibre du Renminbi (RMB) et le mésalignement de change correspondant en Chine, pour la période allant du 1er trimestre 1994 au 4ème trimestre 2007. Au niveau méthodologique, l’analyse s’appuie sur la cointégration avec ruptures structurelles, introduite par Johansen et al. (2000). Le principal résultat est que le RMB était surévalué pendant la crise financière asiatique et durant les années 2001-2002. Dans une certaine mesure, il n’était sous-évalué que sur la période récente, 2003-2005, sauf au début de notre échantillon ; de plus, de légères surévaluations ont été constatées après la mise en place du nouveau régime de change en 2005. Diverses explications sont suggérées afin d’expliquer ces variations.Classification JEL : F31 ; F32 ; F41 ; C32. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Relying on new cointegration framework with structural breaks in the deterministic trend, this article employs the behavioral equilibrium exchange rate (BEER) approach to estimate the equilibrium real exchange rate of Renminbi (RMB) and exchange rate misalignment in China from 1994Q1 to 2007Q4. The main findings of the article are that RMB was overvalued during the Asian financial crisis and during the period of 2001-2002. It was undervalued to a mild extent only during recent period from 2003 to 2005, except at the beginning of the sample; furthermore, slight overvaluations have appeared after the reform of exchange rate regime in 2005. Interpretations are given to shed some light on these movements. JEL Classification: F31; F32; F41; C32. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | cointégration |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | rupture structurelle |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Renminbi |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | mésalignement |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | taux de change d'équilibre comportemental |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | cointegration |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | structural break |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Renminbi |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | behavioral equilibrium exchange rate |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | misalignment |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Économie internationale | 119 | 3 | 2010-04-06 | p. 47-82 | 1240-8093 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/revue-economie-internationale-2009-3-page-47?lang=en&redirect-ssocas=7080">https://shs.cairn.info/revue-economie-internationale-2009-3-page-47?lang=en&redirect-ssocas=7080</a> |
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