汇率失调

人民币汇率失调程度并不严重。

The degree of RMB exchange rate misalignment is not serious .

人民币实际汇率失调程度研究：1994~2004

A Study on RMB Real Exchange Rate Misalignment : 1994 ~ 2004

就汇率失调问题向WTO申诉很可能失败，而且无论如何也会持续数年。

Taking a legal case over exchange rate misalignments to the WTO would probably fail , and take years in any case .

人民币均衡汇率失调程度的Meta方法分析

The Misalignments of RMB Equilibrium Exchange Rate : A Meta-Analysis

在美国的压力之下，imf在评估汇率失调方面采取了比较强硬的立场，引发中国以及其它新兴经济体的强烈反弹。

Under pressure from the US , the IMF adopted a tougher line on assessing currency misalignment , provoking a severe backlash from China and other emerging economies .

并以各原始文献的综合统计量为基础，构建了Meta回归方程，以其来解释人民币均衡汇率失调程度的差异性。

Based on the effect size of original literatures , we set up Meta regression equations to explain the reason that causes the misalignment discrepancy of RMB equilibrium exchange rate .

IMF的其它大多数成员国，尤其是新兴市场，发现自己两头为难&既担心人民币汇率失调冲击本国制造商，又担心廉价借入美元的投资者为了寻求收益率而推高本币汇率。

Most other member governments of the IMF , particularly the emerging markets , find themselves somewhere between the two – concerned about Chinese currency misalignment undercutting their manufacturers but also worried that investors with cheap borrowed dollars are driving their currencies higher in the search for yield .

本文通过计量分析方法研究人民币NDF与人民币汇率失调的关系。研究发现，人民币NDF与理论远期汇率相偏离，反映了资本管制和市场预期；

Based on econometrical method , this paper analyzes the relationship between NDF and misalignment of RMB . Analysis shows that NDF of RMB differs from the theoretical forward rate , and this reflects capital control and expectation ;

日元汇率失调研究

A Study on Misalignment of Japanese Yen 's Real Exchange Rate

在美元兑欧元汇率失调时，美国自己也可以对欧元汇率进行干涉。

It could intervene in euros itself if the dollar-euro rate became misaligned .

最大的风险来自测量假定的中国汇率失调的标准。

The biggest risk comes from measures linked to China 's supposed exchange-rate misalignment .

不过，担心汇率失调的不只是亚洲的央行。

Currency mismatches are not a concern only for Asian central banks , however .

人民币汇率失调呈阶段性，共划分为5个阶段。

The exchange rate disorder is periodic , and can be divided into five stages .

最近的一项研究调查了实际汇率失调和动荡对经济实绩的影响。

A recent study investigated the effects of real exchange rate misalignment and instability on economic performance .

人民币汇率失调与物价水平变动之间的内在联系是导致二者出现背离的深层次原因。

The intrinsic link between RMB exchange rate misalignment and changes in price levels is the deep-seated reasons .

人民币实际汇率失调对我国进出口影响有多大？

How much extent of the RMB real exchange rate misalignment and the import and export of china ?

汇率失调会给发展中国家的经济持续发展带来较大的负面影响，持续的汇率高估甚至会引发货币危机。

Exchange rate misalignment will negatively influence economic development of developing countries , persistent overvaluation may even cause currency crises .

原因很简单：只有这些国家可以大量借贷，且不会造成金融体系内部出现严重的汇率失调。

The reason is simple : only such countries can borrow without risking significant currency mismatches inside their financial systems .

汇率失调集中在一个时段内，总失调程度可划分为5个阶段。

The disorders concentrates in a specific period of time , and the total disorder degrees can be divided into five stages .

然后，本文分析了汇率失调的危害、长期低估的原因和可持续性。

Then , the paper analyzes the harm of RMB exchange rate misalignment , the reason of long-run undervaluation , and sustainability .

结果显示，应用不同的变量会对均衡汇率失调值产生大小不等和方向各异的影响。

It was found that the selection of variables will affect the size and direction of the misalignments of equilibrium exchange rate .

不久前他曾在拉扬手下谋过事，但在汇率失调和资本流动逆转方面他还算不上是行家里手。

He has recently worked under Mr Rajan , but he is no particular authority on misaligned exchange rates or capital-flow reversals .

通过对样本期间人民币汇率失调与国内物价水平变动的考察发现二者之间存在着较为明确的对应关系，即通货膨胀对应汇率低估，通货紧缩对应汇率高估。

We find there is corresponding relations between the two variables during sample period . That an undervalued exchange rate via inflation , overvalued exchange rate via deflation .

克莱恩和威廉姆森的估算显示，汇率失调主要局限于规模较小的经济体，比如澳大利亚和新西兰（本币汇率被高估），以及台湾和马来西亚（本币汇率被低估）等。

The estimates suggest misalignments are mainly confined to smaller economies such as Australia and New Zealand ( overvalued ) and Taiwan and   Malaysia  ( undervalued ) .

那么，近几年人民币汇率失调程度是符合国际惯例的，目前人民币汇率水平的制定也是合理的。

And hence the misalignment rate of RMB exchange rate level is conform to international convention in recent years , and formulation of the RMB exchange rate is reasonable .

增长回归分析表明汇率失调对经济增长率有负面影响，高估会降低经济增长率，而低估对经济增长有一定的促进作用，实际汇率波动对经济增长没有显著影响。

The growth regression on misalignment shows that misalignment has a significant negative effect on economic growth , specifically , overvalue does harm to growth , while undervalue may improve growth .

得出的结论为：汇率失调会破坏宏观经济的内外均衡，对宏观经济的稳定与经济的可持续增长构成威胁。

The conclusion is that Exchange rate misalignment will do harm to the inner and outer equilibrium of an economy , and will threaten the stability and sustainable growth of economy .

如今，复苏远未站稳脚跟，各方的情绪却已转向指责（有关汇率失调）和倦怠（有关金融监管和其它未尽事宜）。

Today , with recovery far from secure , the mood has shifted to one of recrimination ( on currency misalignments ) and lassitude ( on financial regulation and other unfinished business ) .

格兰杰因果关系检验的结果表明，汇率失调是我国物价水平变动的格兰杰原因，反过来，我国物价水平变动不是汇率失调的格兰杰原因。

Granger causality test results show that exchange rate misalignment is the Granger cause of the price changes , in turn , price changes is not a Granger cause of exchange rate misalignment .

新的提案则要狡猾得多，因为它在计算对被视为得到补贴的进口商品征收的紧急“反补贴税”时，允许使用汇率失调的概念。

The new bill is more subtle , as it would permit exchange rate misalignment to be used in calculating the size of emergency " countervailing duties " imposed on imports deemed to be subsidised .