CAJ | 학술논문

文章从国际交换价值的角度研究了一价定律的内涵，提出了“国际购买力平价”理论，并且证明了国际购买力平价是严格意义上的均衡汇率。2009年人民币贸易品购买力平价为6．70元人民币／美元，而国际购买力为5．49元人民币／美元，后者可作为确定人民币汇率处于均衡水平的参考。文章还简化了净出口函数，得出如下主要结论：（1）近年我国的贸易顺差大幅增长，主要是因为价格贸易条件恶化，其次是因为“J曲线效应”；（2）当前的首要任务是改善我国的价格贸易条件以提高国际购买力平价，而不是调整人民币汇率。
문장종국제교환개치적각도연구료일개정률적내함，제출료“국제구매력평개”이론，병차증명료국제구매력평개시엄격의의상적균형회솔。2009년인민폐무역품구매력평개위6．70원인민폐／미원，이국제구매력위5．49원인민폐／미원，후자가작위학정인민폐회솔처우균형수평적삼고。문장환간화료정출구함수，득출여하주요결론：（1）근년아국적무역순차대폭증장，주요시인위개격무역조건악화，기차시인위“J곡선효응”；（2）당전적수요임무시개선아국적개격무역조건이제고국제구매력평개，이불시조정인민폐회솔。
From the angle of international exchange value, this paper studies the connotation of the law of one price, and puts forward the theory of international purchasing power parity. Then it proves that international purchasing power parity is the equilibrium exchange rate in the strict sense. In 2009, RMB tradable goods purchasing power parity was 6.70 Yuan/USD and international purchasing power parity was 5. 49 Yuan/USD. The latter can be taken as a reference for the equilibrium level of RMB exchange rate. In addition, this paper simplifies the net export function, and arrives at the following main conclusions, firstly, owing to the deterioration in net barter terms of trade and J-curve effect, the trade surplus in China increases by a big margin in recent years; secondly, the primary task at present is the im- provement of net barter terms of trade in China in order to raise international purchasing power parity, rather than the adjustment in RMB exchange rate.