Pitfalls in measuring exchange rate misalignment: the Yuan and other currencies
"We evaluate whether the Renminbi (RMB) is misaligned, relying upon conventional statistical methods of inference. A framework built around the relationship between relative price and relative output levels is used. We find that, once sampling uncertainty and serial correlation are accounted fo...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2008
|
| Schriftenreihe: | Working paper series / National Bureau of Economic Research
14168 |
| Online-Zugang: | Volltext |
| Zusammenfassung: | "We evaluate whether the Renminbi (RMB) is misaligned, relying upon conventional statistical methods of inference. A framework built around the relationship between relative price and relative output levels is used. We find that, once sampling uncertainty and serial correlation are accounted for, there is little statistical evidence that the RMB is undervalued, even though the point estimates usually indicate economically significant misalignment. The result is robust to various choices of country samples and sample periods, as well as to the inclusion of control variables. We then update the results using the latest vintage of the data to demonstrate how fragile the results are. We find that whatever misalignment we detected in our previous work disappears in this data set"--National Bureau of Economic Research web site |
| Beschreibung: | 33 S. graph. Darst. 22 cm |
Internformat
MARC
| LEADER | 00000nam a2200000zcb4500 | ||
|---|---|---|---|
| 001 | BV023594045 | ||
| 003 | DE-604 | ||
| 005 | 00000000000000.0 | ||
| 007 | t | ||
| 008 | 081010s2008 xxud||| |||| 00||| eng d | ||
| 035 | |a (OCoLC)255136530 | ||
| 035 | |a (DE-599)GBV574236317 | ||
| 040 | |a DE-604 |b ger | ||
| 041 | 0 | |a eng | |
| 044 | |a xxu |c XD-US | ||
| 049 | |a DE-521 | ||
| 050 | 0 | |a HB1 | |
| 100 | 1 | |a Cheung, Yin-Wong |d ca. 20./21. Jh. |e Verfasser |0 (DE-588)128835001 |4 aut | |
| 245 | 1 | 0 | |a Pitfalls in measuring exchange rate misalignment |b the Yuan and other currencies |c Yin-wong Cheung ; Menzie D. Chinn ; Eiji Fuji |
| 264 | 1 | |a Cambridge, Mass. |b National Bureau of Economic Research |c 2008 | |
| 300 | |a 33 S. |b graph. Darst. |c 22 cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 1 | |a Working paper series / National Bureau of Economic Research |v 14168 | |
| 520 | 8 | |a "We evaluate whether the Renminbi (RMB) is misaligned, relying upon conventional statistical methods of inference. A framework built around the relationship between relative price and relative output levels is used. We find that, once sampling uncertainty and serial correlation are accounted for, there is little statistical evidence that the RMB is undervalued, even though the point estimates usually indicate economically significant misalignment. The result is robust to various choices of country samples and sample periods, as well as to the inclusion of control variables. We then update the results using the latest vintage of the data to demonstrate how fragile the results are. We find that whatever misalignment we detected in our previous work disappears in this data set"--National Bureau of Economic Research web site | |
| 700 | 1 | |a Chinn, Menzie David |e Verfasser |0 (DE-588)124080545 |4 aut | |
| 700 | 1 | |a Fujii, Eiji |e Verfasser |0 (DE-588)12448297X |4 aut | |
| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe |
| 810 | 2 | |a National Bureau of Economic Research <Cambridge, Mass.> |t NBER working paper series |v 14168 |w (DE-604)BV002801238 |9 14168 | |
| 856 | 4 | 1 | |u http://papers.nber.org/papers/w14168.pdf |z kostenfrei |3 Volltext |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-016909375 | ||
Datensatz im Suchindex
| _version_ | 1804138254289600512 |
|---|---|
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Cheung, Yin-Wong ca. 20./21. Jh Chinn, Menzie David Fujii, Eiji |
| author_GND | (DE-588)128835001 (DE-588)124080545 (DE-588)12448297X |
| author_facet | Cheung, Yin-Wong ca. 20./21. Jh Chinn, Menzie David Fujii, Eiji |
| author_role | aut aut aut |
| author_sort | Cheung, Yin-Wong ca. 20./21. Jh |
| author_variant | y w c ywc m d c md mdc e f ef |
| building | Verbundindex |
| bvnumber | BV023594045 |
| callnumber-first | H - Social Science |
| callnumber-label | HB1 |
| callnumber-raw | HB1 |
| callnumber-search | HB1 |
| callnumber-sort | HB 11 |
| callnumber-subject | HB - Economic Theory and Demography |
| ctrlnum | (OCoLC)255136530 (DE-599)GBV574236317 |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>02176nam a2200349zcb4500</leader><controlfield tag="001">BV023594045</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">00000000000000.0</controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">081010s2008 xxud||| |||| 00||| eng d</controlfield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)255136530</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)GBV574236317</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">xxu</subfield><subfield code="c">XD-US</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-521</subfield></datafield><datafield tag="050" ind1=" " ind2="0"><subfield code="a">HB1</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Cheung, Yin-Wong</subfield><subfield code="d">ca. 20./21. Jh.</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)128835001</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Pitfalls in measuring exchange rate misalignment</subfield><subfield code="b">the Yuan and other currencies</subfield><subfield code="c">Yin-wong Cheung ; Menzie D. Chinn ; Eiji Fuji</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Cambridge, Mass.</subfield><subfield code="b">National Bureau of Economic Research</subfield><subfield code="c">2008</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">33 S.</subfield><subfield code="b">graph. Darst.</subfield><subfield code="c">22 cm</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="1" ind2=" "><subfield code="a">Working paper series / National Bureau of Economic Research</subfield><subfield code="v">14168</subfield></datafield><datafield tag="520" ind1="8" ind2=" "><subfield code="a">"We evaluate whether the Renminbi (RMB) is misaligned, relying upon conventional statistical methods of inference. A framework built around the relationship between relative price and relative output levels is used. We find that, once sampling uncertainty and serial correlation are accounted for, there is little statistical evidence that the RMB is undervalued, even though the point estimates usually indicate economically significant misalignment. The result is robust to various choices of country samples and sample periods, as well as to the inclusion of control variables. We then update the results using the latest vintage of the data to demonstrate how fragile the results are. We find that whatever misalignment we detected in our previous work disappears in this data set"--National Bureau of Economic Research web site</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Chinn, Menzie David</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)124080545</subfield><subfield code="4">aut</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Fujii, Eiji</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)12448297X</subfield><subfield code="4">aut</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Erscheint auch als</subfield><subfield code="n">Online-Ausgabe</subfield></datafield><datafield tag="810" ind1="2" ind2=" "><subfield code="a">National Bureau of Economic Research <Cambridge, Mass.></subfield><subfield code="t">NBER working paper series</subfield><subfield code="v">14168</subfield><subfield code="w">(DE-604)BV002801238</subfield><subfield code="9">14168</subfield></datafield><datafield tag="856" ind1="4" ind2="1"><subfield code="u">http://papers.nber.org/papers/w14168.pdf</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-016909375</subfield></datafield></record></collection> |
| id | DE-604.BV023594045 |
| illustrated | Illustrated |
| index_date | 2024-07-02T22:41:33Z |
| indexdate | 2024-07-09T21:25:16Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-016909375 |
| oclc_num | 255136530 |
| open_access_boolean | 1 |
| owner | DE-521 |
| owner_facet | DE-521 |
| physical | 33 S. graph. Darst. 22 cm |
| publishDate | 2008 |
| publishDateSearch | 2008 |
| publishDateSort | 2008 |
| publisher | National Bureau of Economic Research |
| record_format | marc |
| series2 | Working paper series / National Bureau of Economic Research |
| spelling | Cheung, Yin-Wong ca. 20./21. Jh. Verfasser (DE-588)128835001 aut Pitfalls in measuring exchange rate misalignment the Yuan and other currencies Yin-wong Cheung ; Menzie D. Chinn ; Eiji Fuji Cambridge, Mass. National Bureau of Economic Research 2008 33 S. graph. Darst. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 14168 "We evaluate whether the Renminbi (RMB) is misaligned, relying upon conventional statistical methods of inference. A framework built around the relationship between relative price and relative output levels is used. We find that, once sampling uncertainty and serial correlation are accounted for, there is little statistical evidence that the RMB is undervalued, even though the point estimates usually indicate economically significant misalignment. The result is robust to various choices of country samples and sample periods, as well as to the inclusion of control variables. We then update the results using the latest vintage of the data to demonstrate how fragile the results are. We find that whatever misalignment we detected in our previous work disappears in this data set"--National Bureau of Economic Research web site Chinn, Menzie David Verfasser (DE-588)124080545 aut Fujii, Eiji Verfasser (DE-588)12448297X aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 14168 (DE-604)BV002801238 14168 http://papers.nber.org/papers/w14168.pdf kostenfrei Volltext |
| spellingShingle | Cheung, Yin-Wong ca. 20./21. Jh Chinn, Menzie David Fujii, Eiji Pitfalls in measuring exchange rate misalignment the Yuan and other currencies |
| title | Pitfalls in measuring exchange rate misalignment the Yuan and other currencies |
| title_auth | Pitfalls in measuring exchange rate misalignment the Yuan and other currencies |
| title_exact_search | Pitfalls in measuring exchange rate misalignment the Yuan and other currencies |
| title_exact_search_txtP | Pitfalls in measuring exchange rate misalignment the Yuan and other currencies |
| title_full | Pitfalls in measuring exchange rate misalignment the Yuan and other currencies Yin-wong Cheung ; Menzie D. Chinn ; Eiji Fuji |
| title_fullStr | Pitfalls in measuring exchange rate misalignment the Yuan and other currencies Yin-wong Cheung ; Menzie D. Chinn ; Eiji Fuji |
| title_full_unstemmed | Pitfalls in measuring exchange rate misalignment the Yuan and other currencies Yin-wong Cheung ; Menzie D. Chinn ; Eiji Fuji |
| title_short | Pitfalls in measuring exchange rate misalignment |
| title_sort | pitfalls in measuring exchange rate misalignment the yuan and other currencies |
| title_sub | the Yuan and other currencies |
| url | http://papers.nber.org/papers/w14168.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT cheungyinwong pitfallsinmeasuringexchangeratemisalignmenttheyuanandothercurrencies AT chinnmenziedavid pitfallsinmeasuringexchangeratemisalignmenttheyuanandothercurrencies AT fujiieiji pitfallsinmeasuringexchangeratemisalignmenttheyuanandothercurrencies |