Resource title

The overvaluation of Renminbi undervaluation

Resource image

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Resource description

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. The result is robust to various choices of country samples and sample periods, as well as to the inclusion of control variables.

Resource author

Yin-Wong Cheung, Menzie D. Chinn, Eijii Fujii

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/25963

Resource license

Adapt according to the presented license agreement and reference the original author.