均衡汇率理论

第二章讨论的均衡汇率理论包括两部分，购买力平价理论和Nurkse的均衡汇率理论。

Chapter Two introduces the equilibrium exchange rate theory , which includes the theory of purchasing power parity and Nurkse equilibrium exchange rate theory .

作为汇率理论核心内容之一的均衡汇率理论，正是判断汇率水平是否失调的重要理论依据。

As one of the core exchange rate theory , equilibrium exchange rate theory is the important theoretical basis of judging the level of exchange rate .

均衡汇率理论和政策的新框架

Theory and Policy of Equilibrium Exchange : A New Analytic Framework

人民币均衡汇率理论和政策新框架的再拓展&基于内部均衡和外部平衡的分析

RMB Equilibrium Exchange Rate and the Development of the New Policy Framework

均衡汇率理论视角下的汇率制度转型研究

Research on the Transformation of Exchange Rate Regime Based on the Equilibrium Exchange Rate Theory

均衡汇率理论和政策新框架的再探索

Theory and Policy : A Further Research on the New Framework of the Equilibrium Exchange Rate

本文以此为思路，在第三章与第四章中分别选用以上两类理论方法中具有代表性的购买力平价理论和均衡汇率理论来对人民币汇率进行分析。

Accordingly , the author selects Purchase Power Parity Theory and Equilibrium Theory respectively from each type to analyze RMB 's exchange rate .

本文首先对均衡汇率理论及人民币均衡汇率研究文献进行回顾和评述。

Firstly , the article made a review of relative equilibrium exchange rate theories and the research literatures of RMB equilibrium exchange rate .

首先，对现有的均衡汇率理论进行高度概括总结，并在此基础上，提出了人民币均衡汇率内涵和测算模型的基本假设。

With the result , the concept and connotation of RMB Equilibrium Exchange Rate and the basic hypothesis of calculation model are presented .

在此基础上，本文对目前较为流行的西方均衡汇率理论及其模型进行了系统性介绍，并就其各自的优缺点进行分析，为后面的实证研究部分奠定了理论基础。

Based on it , we briefly introduced the popular western theories on equilibrium exchange rate recently and their relative advantages and disadvantages .

第一节在第二章分析的基础上，分析了各种与人民币汇率变动相关的经济变量，并建立了人民币均衡汇率理论模型。

Sector one analyzes the economic variable influencing the RMB exchange rate at the basis of Chapter two , and establishes the theoretic model of RMB equilibrium exchange rate .

较系统地对西方国家的均衡汇率理论进行概括和评价，有助于澄清均衡汇率概念，理解均衡汇率的决定。

It systematically summarized and evaluated the Western countries equilibrium exchange rate theory ; clarified the concept of the equilibrium exchange rate , and caught on the way of the equilibrium exchange rate decision .

那么，目前我国汇率政策和人民币汇率水平是否合理，是否出现低估现象呢？均衡汇率理论作为汇率理论的核心理论之一，正是判断汇率政策是否需要调整和汇率水平是否合理的重要理论依据。

Equilibrium Exchange Rate Theory , which one of core exchange rate theories , is an important theoretical basis that could determine whether exchange rate policy or exchange rate level should make an adjustment .

人民币长期均衡汇率决定理论及实证研究

Long-run Equilibrium Exchange Rate of RMB Decision Theory and Empirical Research

汇率目标区的基准汇率应选择均衡汇率，理论上这种均衡汇率应是能同时反映一国内外部均衡的汇率。

The benchmark rate of the target zone should be an equilibrium rate which can reflects both of internal and external equilibrium simultaneously .

本文的亮点在于借鉴了国内外的均衡汇率决定理论，构建了中国的人民币均衡汇率决定模型；

The highlight of the paper lies in using foreign and domestic equilibrium exchange rate theories as reference to build Chinese RMB equilibrium exchange rate model .

摘要从均衡实际汇率理论分析汇率制度，认为人民币汇率应更加弹性，以适应转轨过程中的经济冲击。

Based on the theory of equilibrate real exchange rate , this paper holds that the exchange rate of RMB should be more flexible to suit to shocks in the process of transition .

人民币均衡汇率决定的理论分析&基于购买力平价理论的思考

The Theory Analysis of Renminbi Balanced Exchange Rate & Theory Thought about Purchasing Power Parity Price

首先综合分析了目前理论界关于汇率和均衡汇率的各种理论，做出了分类和评述。

First , it analysed the current theories about the exchange rate and the equilibrium exchange comprehensively , and made classification and comments .

而均衡汇率作为汇率理论中的最核心问题之一，不仅是判断汇率水平是否失调的标准，而且是汇率政策是否需要调整的重要依据。

As one of the core issue of exchange rate theories , equilibrium exchange-rate is not only a standard to judge whether the exchange-rate is misadjusted , but also an important basis of whether exchange-rate policy needs to be adjusted .

均衡汇率问题是汇率理论的核心问题之一，由于现实中实际汇率经常会偏离均衡汇率水平，导致汇率失调，长期的汇率失调就会对宏观经济产生不利影响。

Equilibrium Exchange rate is one of the core problems in exchange rate theories . In fact , the real exchange rate often departures with the equilibrium exchange rate , which leads to exchange rate misalignment . The long-term misalignment has a serious impact on the real economy .

根据理论界研究韵侧重点不同，从均衡汇率的宏观经济均衡分析方法、均衡汇率的决定、均衡汇率的测算、人民币均衡汇率研究的理论层面和实证层面，对相关理论及文献进行了介绍与评论。

According to the various emphasizing points of different theories , we made a commentary from such aspects as the macro equilibrium analysis method , the determination of equilibrium exchange rate , the calculation of equilibrium exchange rate , the theoretical analysis and estimating analysis of RMB equilibrium exchange rate .