摘要
本文探讨了人民币升值对向欧元区出口价格的汇率传递效应及其对中欧贸易顺差的调节作用。作者利用1999年1月至2006年12月的月度数据,在SITC一位数商品分类层面上,考察了人民币/欧元汇率变动对中国向欧元区出口价格的影响。实证结果显示,不同类商品的出口价格汇率传递弹性存在较大差异,汇率变动引起中国向欧元区出口价格较大幅度的调整,人民币升值对占中欧出口总额一半以上的第6类和第7类商品出口没有抑制作用。因此,人民币升值对中欧贸易顺差的调节作用有限。
This paper explores the impacts of RMB appreciation on the prices of exports to Euro Area and on the adjustment of Sino-Euro trade surplus.At the 1-digit level of Standard Industrial Trade Classification industries,we investigate RMB exchange rate pass-through elasticities onto prices of China's exports to Euro Area.Empirical results indicate that the pass-through elasticities of different sections vary from each other,and the exchange rate movements induce substantial change in export prices denominated in RMB.The appreciation of RMB doesn't depress the exports of SITC6 and SITC7,which account for more than half of China's export value to Euro Area.Hitherto,the appreciation of RMB has limited effect on the adjustment of trade imbalances.
出处
《世界经济研究》
CSSCI
北大核心
2008年第7期32-37,共6页
World Economy Studies
