本文旨在利用一般化的小型開放隨機總體模型，透過最適通貨籃權數的 選擇進行固定通貨籃匯率制度下，最適匯率調整法則之分析。文中我們不但成功 的解說了模型中所得最通匯率調整法則所隱含的經濟意義，更聯結既有文獻中由 總體模型出發與部份均衡模型出發所得的結果，並跨越了理論研究與實務應用上 的鴻溝，且深入探討一國進出口市場結構與通貨籃匯率制度設計間的關係。最 後，並將理論模型中所得之結果，以台灣為例，進行模擬分析。

　　　　　The main purpose of this paper is to analyze the optimal adjusting rule ofexchange rate under a pegged currency basket exchange rate system byusing a general equilibrium stochastic macro model. In this paper the economic meaning of the optimal adjesting rule of exchange rate is systematically explained, the results from macro model and partial equilibriummodel are successfully linked, and the gap between the theory and thepractice is narrowed. Furthermore, the relationship between the structureof trade market and the optimal adjusting rule is analyzed, and the resultsfrom this paper are compared with existing literature. Finally, Taiwan ischosen for simulation purpose.