Can Renminbi Appreciation Reduce the US Trade Deficit?

查看全文 作　　者：Jian [1]Zhang;Hung-Gay [2]Fung;Donald [3]Kummer 机构地区：[1]UNESCO/IAEA, the Abdus Salam international Centre for Theoretical Physics (ICTP), Trieste, Italy;[2]Hung-Gay Fung, Dr Y, S. Tsiang Professor of Chinese Studies, College of Business Administration & Center of International Studies, University of Missouri-St. Louis, USA.;[3]Associate Professor, College of Business Administration, University of Missouri-St. Louis, USA 出　　处：《China & World Economy》索引2006年第14卷第1期,共13页 摘　　要：Using a computational general equilibrium model, we analyze the impacts of Chinese real exchange rate appreciation on the trade balance of China and the USA and on various industries of both countries. We use several scenarios with 2.1, 6 and 12 percent real exchange rate appreciations for our simulation analysis. The results indicate that China’s exchange rate appreciation might not solve the enlarging US current account deficits. Chinese outputs in both primary and manufacture sectors will increase, whereas the outputs of energy and services sectors will be adversely affected. The price of value-added products declines in light of the renminbi appreciation. 关 键 词：人民币增值 中国 美国 贸易逆差 人民币汇率