Chen, Shiyi; Chen, Dengke; Härdle, Wolfgang K. - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2014
. We find strong evidence to suggest that the increase of China’s price level, resulting fromoil price shocks, is …’s output level is positively correlated with the oil price, and oil price shocks slightly appreciate the RMB against the US … dollar. Positive correlation between China’s output and oil price shocks presumably results from the drop in China’s relative …