第15章 汇率的决定5讲解材料.pptVIP

Chapter 15 Exchange Rates Determination  汇率的决定;15.1 Purchasing-Power Parity Theory 购买力平价理论;15.1 purchasing-power parity, PPP购买力平价理论;15.1A Absolute Purchasing-Power Parity Theory（绝对购买力平价理论）; absolute purchasing-power parity theory: the equilibrium exchange rate between two currencies is equal to the ratio of the price levels in the two nations. 均衡汇率等于两国物价水平之比。 R= P / P* ; relative purchasing-power parity theory: the change in the exchange rate over a period of time should be proportional to the relative change in the p