You, Kefei; Sarantis, Nicholas - In: Journal of International Financial Markets, … 22 (2012) 1, pp. 151-170
This paper investigates the equilibrium CNY/USD nominal exchange rate during 1976–2008. We extend for the first time the five-area FABEER model to a twelve-area TABEER model for China. All parameters are estimated with allowance for endogenous structural breaks. Our investigation of the...