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Empirical research on effect of exchange rate pass-through into China's export price

机译:汇率传递对中国出口价格影响的实证研究

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Exchange rate pass-through into prices (ERPT) is a very important mediate link between exchange rate and its economic effects. And the size of export effect induced by exchange rate change depends on the elasticity and speed of export price ERPT to some degree. On the basis of SITC, this paper uses Distributed Lag Model and Co-integration to research the elasticity of Chinese export price ERPT from 1995 to 2007. The result indicates China???s export price shows obvious incomplete pass-through in the long run. The elasticity is slightly larger than 0.5. And there is a big difference among different products??? elasticity. The products which have strong competitiveness in the world market own more power to pass the cost of RMB appreciation and their elasticity is relatively bigger.
机译:汇率传递到价格(ERPT)是汇率与其经济影响之间非常重要的中介环节。汇率变动引起的出口效应的大小在一定程度上取决于ERPT出口价格的弹性和速度。本文以SITC为基础,运用分布式滞后模型和协整关系研究了1995年至2007年中国出口价格ERPT的弹性。结果表明,从长期看,中国出口价格存在明显的不完全传递。 。弹性略大于0.5。而且不同产品之间有很大的区别???弹性。在世界市场上具有较强竞争力的产品具有更大的承受人民币升值成本的能力,其弹性较大。

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