CAJ | 학술논문

汇率传递效应不仅影响国内总需求与总供给的均衡．而且还会影响国内货币政策实施的有效性。人民币汇率变动对我国进口价格及其他价格水平的传递程度是决定汇率调节我国贸易收支以及稳定国内物价水平的一个关键因素。本文的目的在于运用协整等方法分析人民币汇率变动对我国出口价格水平的影响，研究结果表明：无论长期内还是短期内，进出口价格对汇率波动的反应都较为敏感，不完全汇率的传递广泛存在于中国的出口企业。
회솔전체효응불부영향국내총수구여총공급적균형．이차환회영향국내화폐정책실시적유효성。인민폐회솔변동대아국진구개격급기타개격수평적전체정도시결정회솔조절아국무역수지이급은정국내물개수평적일개관건인소。본문적목적재우운용협정등방법분석인민폐회솔변동대아국출구개격수평적영향，연구결과표명：무론장기내환시단기내，진출구개격대회솔파동적반응도교위민감，불완전회솔적전체엄범존재우중국적출구기업。
The transmission effect of exchange rate not only affects the balance of domestic aggregate demand and aggregate supply, but also affects the effectiveness of monetary policy implementation. The extent of transmission of RMB exchange rate fluctuation on import price and other price levels is a key factor when exchange rate adjusts China＇s trade balance and achieves stable domestic price level. The article aims to use cointegration method to ana- lyze the impact of RMB exchange rate fluctuation on China＇s export prices. The results show that no matter in the long term or in the short term, the prices of import and export are sensitive to exchange rate fluctuation, and incom- plete transmission of exchange rate is widely available in ChinaJs export enterprises.