摘要
以1979年至2008年间的数据为基础,运用协整分析方法和Granger因果检验对中国CPI、外汇储备、平均工资、人民币名义有效汇率和美国CPI的关系进行实证研究,结果表明,这些变量之间长期内存在协整关系,这有助于理解人民币对外升值对内贬值的悖论现象,同时对我国货币政策和汇率政策的制定也有借鉴作用。
Based on the data from 1979 to 2008, the paper makes an analysis of the relationship among Chi- na＇s CPI, foreign exchange reserve, average wage, Nominal Effective Exchange Rate （NEER） of RMB and American＇s CPI applying Granger causality test and co-integration test. And it concludes that these variables exists co-integration relationship and other results. side appreciation and inside depreciation of RMB, monetary policy and exchange rate policy. These conclusions help to understand the paradox of out- and provide some reference for the government to make
出处
《上海市经济管理干部学院学报》
2010年第4期44-49,共6页
Journal of Shanghai Economic Management College
关键词
人民币汇率
对外升值
对内贬值
RMB exchange rate
outside appreciation
inside depreciation
