Cheung, Yin-Wong; Chinn, Menzie D.; Qian, Xingwang - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2014
reduce China’s trade balance. The use of alternative exchange rate measures and data on different trade classifications …. Hence, the purging the real exchange rate of the portion responding to policy, or using the deviation of the real exchange … rate from the equilibrium level yields a stronger measured effect than when using the unadjusted bilateral exchange rate. …