The changing sources of real exchange rate fluctuations in China, 1995–2017: twinning the western industrial economies?

Relative real demand shocks are the most important source of real exchange rate fluctuations for most countries, including China, but prior to 2005 supply shocks were also large and highly significant. Whereas China’s pegged exchange rate policy rendered nominal (monetary) shocks unimportant, the sh...

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Bibliographic Details
Main Authors: Yuan Tian, Eric Pentecost
Format: Default Article
Published: 2019
Subjects:
Applied economics
Other economics
real exchange rate
nominal shocks
structural VAR
Online Access:https://hdl.handle.net/2134/24083949.v1
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