财经研究
財經研究
재경연구
The Study of Finance and Economics
2008年
12期
16~27
,共null页
实际汇率 市场结构 可贸易部门 不可贸易部门
實際彙率 市場結構 可貿易部門 不可貿易部門
실제회솔 시장결구 가무역부문 불가무역부문
real exchange rate; market structure; tradable sector; non- radable sector
文章在一个存在垄断竞争的两国动态一般均衡模型中分析市场结构变化对实际汇率长期趋势的影响，结论认为，本国可贸易品和不可贸易品市场垄断程度上升会导致本币实际升值，而外国可贸易品和不可贸易品市场垄断程度上升会导致本币实际贬值。对人民币／美元实际汇率和中关两国市场垄断程度关系的实证分析基本验证了模型的结论。文章建议，可以通过拆分重组、发展民营企业、引进外资企业等方式引入竞争、降低垄断程度，从而缓解部分人民币升值压力。
文章在一箇存在壟斷競爭的兩國動態一般均衡模型中分析市場結構變化對實際彙率長期趨勢的影響，結論認為，本國可貿易品和不可貿易品市場壟斷程度上升會導緻本幣實際升值，而外國可貿易品和不可貿易品市場壟斷程度上升會導緻本幣實際貶值。對人民幣／美元實際彙率和中關兩國市場壟斷程度關繫的實證分析基本驗證瞭模型的結論。文章建議，可以通過拆分重組、髮展民營企業、引進外資企業等方式引入競爭、降低壟斷程度，從而緩解部分人民幣升值壓力。
문장재일개존재롱단경쟁적량국동태일반균형모형중분석시장결구변화대실제회솔장기추세적영향，결론인위，본국가무역품화불가무역품시장롱단정도상승회도치본폐실제승치，이외국가무역품화불가무역품시장롱단정도상승회도치본폐실제폄치。대인민폐／미원실제회솔화중관량국시장롱단정도관계적실증분석기본험증료모형적결론。문장건의，가이통과탁분중조、발전민영기업、인진외자기업등방식인입경쟁、강저롱단정도，종이완해부분인민폐승치압력。
Based on a dynamic general equilibrium model between two countries with the assumption of monopoly competition, the paper analyzes the effect of the change of market structure on real exchange rate. The resuits show that the increase of market--monopoly level both in domestic tradable and non--tradable sectors results in real appreciation of home currency, while the increase of market-monopoly level both in foreign tradable and non-tradable sectors leads to real depreciation of home currency. The empirical analysis on the relation between RMB/dollar real exchange rate and market-monopoly levels both in China and USA basically verifies these results. Therefore, the paper suggests that the present pressure of RMB appreciation could ease off by ways of reorganizing, developing private-owned enterprises and introducing foreign firms, which bring in competition and reduce monopoly.
