about on the rmb exchange rate changes on price levels in china（在人民币汇率变化对中国价格水平）.docVIP

About On the RMB exchange rate changes on price levels in China Abstract: In this paper, vector auto regression (VAR) model to study China’s RMB exchange rate changes on import prices, producer prices and consumer price pass-through estimated results show that the RMB exchange rate movements on import prices, producer prices and consumer prices The pass is incomplete, transmission rate is low and the size of the rate of exchange rate pass-along distribution chain of goods falling import prices to exchange rate movements of the fastest response. producer prices and consumer prices in turn slow down the reaction. Keywords: currency exchange rate pass-VAR I. Introduction Exchange rate pass (Exchange Rate Pass-Through, ERPT) refers to the exporting and importing countries, exchange rate changes caused by 1% in local currency price in the importing country imports the percentage change in price. Micro-level perspective of the majority of micro-based partial equilibrium model from industrial organization theory, theory of international trade, strategic research and analysis. Krug-man (1986), DornbUSCh (1987) examined the market structure on the impact of exchange rate pass, noot and Klemperer (1989) examined the market share of the impact of exchange rate pass- . macro level, the new open macroeconomics perspective, the nominal price stickiness and monopolistic competition into the model, the price pass-through effect of exchange rate changes the size of the pricing strategy with the vendor. Obstfeld and Rogoff (1995), Betts and Devereux ( 1996) assumes that the market is fragmented, exporters can market pricing, can choose the price in local currency, you can select the price in foreign currency, said the former known as the ‘producer price’ (prodtlcer currencypricing, PCP), which is called ‘local currency pricing (local currency pricing, LCP). Second, the econometric model and data processing (A) the sources of data processing and In this paper,