Gan, Christopher; Ward, Bert; Ting, Su Ting; Cohen, David A. - In: Journal of Asian Economics 29 (2013) C, pp. 33-44
This paper estimates time specific values for China's long-run equilibrium exchange rate and develops measures of the direction and extent of misalignment based on a reduced-form real effective exchange rate (REER) model. An appropriately specified long-run equilibrium model is estimated and...