CAJ | 학술논문

基于汇率变动的不完全传递效应，实证分析了人民币汇率升值的贸易顺差调整效果，并基于实证研究结论对不完全汇率传递影响顺差调整的机理进行了论证分析。实证研究表明，人民币汇率变动对出口价格的传递程度比较低，虽然出口的价格弹性比较高，但是较低程度的汇率传递确实弱化了人民币升值的贸易顺差调整效应。
기우회솔변동적불완전전체효응，실증분석료인민폐회솔승치적무역순차조정효과，병기우실증연구결론대불완전회솔전체영향순차조정적궤리진행료론증분석。실증연구표명，인민폐회솔변동대출구개격적전체정도비교저，수연출구적개격탄성비교고，단시교저정도적회솔전체학실약화료인민폐승치적무역순차조정효응。
This paper analyzes the adjustment effects of RMB＇ s exchange rate appreciation on trade surplus based on the incomplete exchange rate pass - through, the result shows that the degree of pass - through of change of exchange rate on export price is very limited, and although the price elasticity of export is not very low, the lower pass - through degree surely weakened the surplus adjustment effect of RMB＇ s appreciation.