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建立人际资源圈A Study on the Effects of RMB Exchange Rate on the Inflation in China---Essay代写范文
2016-08-23 来源: 51Due教员组 类别: Essay范文
Essay代写范文：A Study on the Effects of RMB Exchange Rate on the Inflation in China这篇Essay范文随着国际经济形势和国内经济形势日益复杂，中国的综合国力上升迅速,人民币汇率面临着前所未有的国际压力。在此背景下，研究人民币汇率变化对中国通胀和中国政府制定相关政策有重大的影响，具有重要的现实意义。
For a long time, China's monetary policy intermediary goal is the money supply, but with the international economic situation and domestic economic situation increasingly complex, more and more scholars think, using money supply as the intermediary target of monetary policy has been unable to meet the needs of economic development in china. So, somebody puts forward to the inflation rate as the intermediate target of China's monetary policy proposals. In this context, the RMB exchange rate changes on the impact of inflation in China, the formulation of monetary policy and exchange rate policy is very important.
While with the economy development and the China’s reform and opening-up, the comprehensive national strength of China rise up rapidly and the China has become an important role in the international arena, there is no doubt that the China would take an important role on the international pattern gradually. And the RMB exchange rate faced with hitherto unknown international pressure. According to the traditional macroeconomic theory, a sharp appreciation of RMB would reduce the domestic import prices, and a drop in imports goods prices will reduce the domestic price level. However, with the continued appreciation of the RMB exchange rate, rising domestic prices in recent years. In this context, study on the impact of RMB exchange rate changes impact on inflation in China and the Chinese government to formulate relevant policies, have important practical significance.
The main research contents of this paper can be divided into three parts:
The first part is the theoretical basis part. This paper introduces the connotation of the effect of the change of exchange rate, the relevant theories of the exchange rate effects the price and exchange rate transmission mechanism for inflation, which provides a solid theoretical foundation for this research.
The second part is the empirical analysis. The VAR econometric model is used in the empirical analysis, analysis of the RMB exchange rate fluctuation price transmission effect of RMB appreciation and inflation and cause.
The third part puts forward some countermeasures and suggestions. Through the literature overviews and the empirical work above, according to the actual situation in China, put forward several suggestions for management of inflation in china and in a globe perspective.
According to the reference, it refers to the incomplete exchange rate transfer effect which means the exchange rate do the impacts on the inflation but should be discounted by the transfer mechanism. So the macro-variables are designed in the formulation to describe the mechanism and the usual methods of time series in the references are used in the study. So, the ADF test, cointegration test, the Granger causality test, the impulse response and variance decomposition are used in the empirical part, the construction of VAR model mainly analyzes the impact of foreign exchange reserves, money supply and exchange rate on CPI. From the empirical results show that: in the long run, the domestic inflation and between RMB real effective exchange rate,the foreign exchange reserves and the money supply does exist a long-run cointegration relationship, and they are at the same time related, the values of the correlation coefficient, the impact of RMB real effective exchange rate and the foreign exchange rate to domestic inflation is larger. Obviously, the incomplete effect exists in the exchange rate transfer, which is confirmed by the empirical modal in the research from the reference, that is, In the CPI in the high operation, a rapid increase in foreign exchange reserves, the external loose monetary policy under the background. According to the phenomenon, some advice and suggestion are made to alleviate the situation.
51Due原创版权郑重声明：原创范文源自编辑创作，未经官方许可，网站谢绝转载。对于侵权行为，未经同意的情况下，51Due有权追究法律责任。
51due为留学生提供最好的作业代写服务，想获取更多Essay代写范文，亲们可以进入主页 www.51due.com 为留学生提供essay辅导服务，了解详情可以咨询我们的客服QQ:800020041哟。-lc
For a long time, China's monetary policy intermediary goal is the money supply, but with the international economic situation and domestic economic situation increasingly complex, more and more scholars think, using money supply as the intermediary target of monetary policy has been unable to meet the needs of economic development in china. So, somebody puts forward to the inflation rate as the intermediate target of China's monetary policy proposals. In this context, the RMB exchange rate changes on the impact of inflation in China, the formulation of monetary policy and exchange rate policy is very important.
While with the economy development and the China’s reform and opening-up, the comprehensive national strength of China rise up rapidly and the China has become an important role in the international arena, there is no doubt that the China would take an important role on the international pattern gradually. And the RMB exchange rate faced with hitherto unknown international pressure. According to the traditional macroeconomic theory, a sharp appreciation of RMB would reduce the domestic import prices, and a drop in imports goods prices will reduce the domestic price level. However, with the continued appreciation of the RMB exchange rate, rising domestic prices in recent years. In this context, study on the impact of RMB exchange rate changes impact on inflation in China and the Chinese government to formulate relevant policies, have important practical significance.
The main research contents of this paper can be divided into three parts:
The first part is the theoretical basis part. This paper introduces the connotation of the effect of the change of exchange rate, the relevant theories of the exchange rate effects the price and exchange rate transmission mechanism for inflation, which provides a solid theoretical foundation for this research.
The second part is the empirical analysis. The VAR econometric model is used in the empirical analysis, analysis of the RMB exchange rate fluctuation price transmission effect of RMB appreciation and inflation and cause.
The third part puts forward some countermeasures and suggestions. Through the literature overviews and the empirical work above, according to the actual situation in China, put forward several suggestions for management of inflation in china and in a globe perspective.
According to the reference, it refers to the incomplete exchange rate transfer effect which means the exchange rate do the impacts on the inflation but should be discounted by the transfer mechanism. So the macro-variables are designed in the formulation to describe the mechanism and the usual methods of time series in the references are used in the study. So, the ADF test, cointegration test, the Granger causality test, the impulse response and variance decomposition are used in the empirical part, the construction of VAR model mainly analyzes the impact of foreign exchange reserves, money supply and exchange rate on CPI. From the empirical results show that: in the long run, the domestic inflation and between RMB real effective exchange rate,the foreign exchange reserves and the money supply does exist a long-run cointegration relationship, and they are at the same time related, the values of the correlation coefficient, the impact of RMB real effective exchange rate and the foreign exchange rate to domestic inflation is larger. Obviously, the incomplete effect exists in the exchange rate transfer, which is confirmed by the empirical modal in the research from the reference, that is, In the CPI in the high operation, a rapid increase in foreign exchange reserves, the external loose monetary policy under the background. According to the phenomenon, some advice and suggestion are made to alleviate the situation.
51Due原创版权郑重声明：原创范文源自编辑创作，未经官方许可，网站谢绝转载。对于侵权行为，未经同意的情况下，51Due有权追究法律责任。
51due为留学生提供最好的作业代写服务，想获取更多Essay代写范文，亲们可以进入主页 www.51due.com 为留学生提供essay辅导服务，了解详情可以咨询我们的客服QQ:800020041哟。-lc
