%0 Journal Article
%T An Empirical Analysis on the Model of RMB Exchange Rate Determination<br>人民币汇率决定模型的实证分析
%A WEI Wei-xian
%A <br>魏巍贤
%J 系统工程理论与实践
%D 2000
%I 
%X The objectives of this paper are twofold. First, it is to find an acceptable model that explains the movement of Renminbi (RMB) nominal spot exchange rate in terms of macroeconomic variables. Second, by using the exchange rate data from January 1994 to March 1998 between RMB and the U.S. dollar, this paper test if the model of RMB exchange rate determination presented in reference \ is a long\|run exchange rate determination model and the hypotheses posited in the model. Results show that macroeconomic variable is a significant factor in influencing the long\|run exchange rate. This is achieved by applying the techniques of cointegration and variance decomposition as well as impulse response analysis.
%K exchange rate determination model
%K cointegration
%K variance decomposition
%K impulse response analysis<br>汇率决定模型
%K 协整
%K 方差分解分析
%K 脉冲响应分析
%U http://www.alljournals.cn/get_abstract_url.aspx?pcid=01BA20E8BA813E1908F3698710BBFEFEE816345F465FEBA5&cid=962324E222C1AC1D&jid=1D057D9E7CAD6BEE9FA97306E08E48D3&aid=0BE086FA491AFB55&yid=9806D0D4EAA9BED3&vid=A04140E723CB732E&iid=38B194292C032A66&sid=68D88C2FCF9C3098&eid=E44E40A2398D4F2A&journal_id=1000-6788&journal_name=系统工程理论与实践&referenced_num=10&reference_num=12