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題名:人民幣匯率變動與通貨替代
書刊名:人文及社會科學集刊
作者:曹添旺 引用關係唐忠廷
作者(外文):Tsaur, Tien-wangTang, Chung-ting
出版日期:2016
卷期:28:1
頁次:頁1-27
主題關鍵詞:通貨替代格萊欣法則匯率動態Currency substitutionGresham's LawExchange rate dynamics
原始連結:連回原系統網址new window
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  • 被引用次數被引用次數:期刊(1) 博士論文(0) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:0
  • 共同引用共同引用:20
  • 點閱點閱:29
近二十年來,中國出口導向的經濟成長導致貿易順差並累積外匯。人民幣國際地位因而提升,匯率變動幅度隨之擴大,臺灣民眾勢將調整人民幣的持有。有鑑於此,本文建構一個三元通貨的理論架構,據以分析小型開放經濟的民眾面臨新臺幣、人民幣與美元之間發生通貨替代現象時,如何改變通貨組合,進而影響實質匯率和通貨持有量等變數。本文也試圖探討人民幣寬鬆政策對臺灣經濟的衝擊,結果指出:貿易彈性、通貨替代程度、人民幣和美元原先的持有量,以及中國和美國原先的貨幣增長率,都會影響臺灣民眾通貨持有量和實質匯率的長期走向與動態時徑。
China has experienced rapid economic growth in the last two decades. The large trade surplus in China in the years following 2001 offers a favorable argument for exchange rate “flexibility”. When Renminbi is expected to be volatile, currency substitution and the exchange rate of “Renminbization” might occur in Taiwanese’s portfolio allocation. The purpose of this paper is to analyze how the dynamic consequences of the currency substitution and “Renminbization” affect the volatility of exchange rates and the diversification of currency holdings. We develop a dynamic general equilibrium model of a small open economy with perfect foresight and currency substitution to explore the comparative static analysis of steady states. We then use the steady state properties of the model to investigate the behavior of relevant macroeconomic variables, including the impact effect and the dynamic adjustment path.
期刊論文
1.Mundell, Robert A.(1963)。Capital Mobility and Stabilization Policy under Fixed and Flexible Exchange Rates。Canadian Journal of Economics and Political Science,29(4),475-485。  new window
2.Chen, Chau-nan(1973)。Diversified Currency Holdings and Flexible Exchange Rates。Quarterly Journal of Economics,87(1),96-111。  new window
3.Chen, Chau-nan、Tsaur, Tien-wang(1983)。Currency Substitution and Foreign Inflation。Quarterly Journal of Economics,98(1),177-184。  new window
4.陳昭南、曹添旺、周建富(19780300)。通貨替代與貨幣對流。臺灣經濟研究月刊,1(3),27-35。new window  延伸查詢new window
5.聶建中(20140400)。人民幣再次放寬交易波幅的意義與影響。展望與探索,12(4),12-17。  延伸查詢new window
6.Calvo, Guillermo A.、Rodriguez, Carlos A.(1977)。A Model of Exchange Rate Determination under Currency Substitution and Rational Expectations。Journal of Political Economy,85(3),617-626。  new window
7.Chen, Chau-nan(1972)。Bimetallism: Theory and Controversy in Perspective。History of Political Economy,4(1),89-112。  new window
8.Chen, Chau-Nan(1975)。Flexible Bimetallic Exchange Rates in China, 1650-1850: A Historical Example of Optimum Currency Areas。Journal of Money, Credit and Banking,7(3),359-376。  new window
9.Chen, C. N.(1976)。Currency Denominations and the Price Level。Journal of Political Economy,84(1),179-183。  new window
10.Chen, C. N.、Tsaur, T. W.(1983)。Currency Denominations, Currency Substitutions, and the Price Level。Journal of Macroeconomics,5(4),511-513。  new window
11.Chen, Chau-Nan、Tsaur, Tien-Wang(19920900)。Currency Substitution, Factor Demand Theory, and the Dynamics of Exchange Rates。經濟論文,20(2),313-335。  new window
12.Chen, Chau-Nan、Tsaur, Tien-Wang(19950800)。Foreign Monetary Shocks and Adjustments of Domestic Prices, Exchange Rates and Terms of Trade。經濟論文,23(2),25-42。  new window
13.Chen, C. N.、Tsaur, T. W.、Chou, C. F.(1981)。Gross Substitution, Gresham's Law, and Hayek's Free Currency System。Journal of Macroeconomics,3(4),547-557。  new window
14.Chen, Chau-nan、Tsaur, Tien-wang、Liu, Shun-chieh(1989)。Currency Substitution, Foreign Inflation, and Terms-of-Trade Dynamics。Journal of Political Economy,97(4),955-964。  new window
15.Chen, S. K.(2000)。Endogenous Real Exchange Rate Fluctuations in an Optimizing Open Economy Model。Journal of International Money and Finance,19(2),185-205。  new window
16.Craig, B. R.、Waller, C. J.(2000)。Dual-Currency Economies as Multiple-Payment Systems。Economic Review,36(1),2-13。  new window
17.Engel, C.(1989)。The Trade Balance and Real Exchange Rate under Currency Substitution。Journal of International Money and Finance,8(1),47-58。  new window
18.Freitas, M.(2004)。The Dynamics of Inflation and Currency Substitution in a Small Open Economy。Journal of International Money and Finance,23(1),133-142。  new window
19.Liviatan, N.(1981)。Monetary Expansion and Real Exchange Rate Dynamics。Journal of Political Economy,89(6),1218-1227。  new window
20.Park, W.(1987)。Crawling PEG, Inflation Hedges and Exchange Rate Dynamics。Journal of International Economics,23(1/2),131-150。  new window
21.Rogers, J. H.(1990)。Foreign Inflation Transmission under Flexible Exchange Rates and Currency Substitution。Journal of Money, Credit and Banking,22(2),195-208。  new window
22.Tandon, A.、Wang, Y.(2003)。Confidence in Domestic Money and Currency Substitution。Economic Inquiry,41(3),407-419。  new window
23.Uribe, M.(1997)。Exchange-Rate-Based Inflation Stabilization: The Initial Real Effects of Credible Plans。Journal of Monetary Economics,39(2),197-221。  new window
24.Yinusa, D. O.(2007)。Between Dollarization and Exchange Rate Volatility: Nigeria's Portfolio Diversification Option。Journal of Policy Modeling,30(5),811-826。  new window
25.Yinusa, D. O.、Akinlo, A. E.(2008)。Exchange Rate Volatility, Currency Substitution and Monetary Policy in Nigeria。Botswana Journal of Economics,5(9),61-83。  new window
26.曹添旺(19940900)。通貨替代下實質匯率與不動產相對價格之動態調整--爬行釘住匯率模型。經濟論文,22(2),125-173。new window  延伸查詢new window
27.曹添旺、曹真睿(20131200)。輸入性通貨膨脹與實質匯率動態。經濟論文叢刊,41(4),403-441。new window  延伸查詢new window
28.曹添旺、黃俊傑(20050600)。通貨替代、貿易彈性與實質匯率動態。經濟論文,33(2),173-200。new window  延伸查詢new window
29.曹添旺(19930300)。通貨替代、通貨膨脹、資產選擇與實質匯率動態。經濟論文叢刊,21(1),1-24。new window  延伸查詢new window
30.曹添旺(19870600)。通貨替代、通貨膨脹、滙率調整與貨幣中立性。經濟論文叢刊,15(2),367-398。new window  延伸查詢new window
研究報告
1.內政部移民署(2014)。出國(境)人數統計表--按地點分。  延伸查詢new window
學位論文
1.唐忠廷(2014)。人民幣升值與通貨替代(碩士論文)。東吳大學。  延伸查詢new window
圖書
1.Mundell, R. A.(1971)。Monetary Theory: Inflation, Interest, and Growth in the World Economy。Pacific Palisades, California:Goodyear Publishing。  new window
2.Ostaszewski, A.(1993)。Mathematics in Economics: Models and Methods。Oxford:Blackwell Publishers。  new window
3.Turnovsky, Stephen John(1995)。Methods of Macroeconomic Dynamics。Cambridge, Massachusetts:MIT Press。  new window
其他
1.(2015)。人民幣兌換美元匯率走勢,https://tw.money.yahoo.com/currency/USDCNY=X, 2015/06/18。  延伸查詢new window
2.中央銀行(2014)。國際準備貨幣,http://www.cbc.gov.tw/public/Attachment/452816234771.pdf, 2014/09/23。  new window
3.中央銀行(2015)。中央銀行統計資料庫,http://www.pxweb.cbc.gov.tw/dialog/statfile9.asp, 2015/06/18。  延伸查詢new window
4.中央銀行(2015)。104年4月銀行辦理人民幣業務概況,http://www.cbc.gov.tw/ct.asp?xItem=45973&ctNode=302&mp=1, 2015/07/17。  new window
5.行政院大陸委員會(2015)。103年12月份兩岸交流統計比較摘要,Mainland Affairs Council:Executive Yuan。,http://www.mac.gov.tw/public/Data/52131552971.pdf, 2015/03/09。  延伸查詢new window
6.財政部關務署(2014)。統計資料庫查詢系統,https://portal.sw.nat.gov.tw/APGA/GA01, 2015/03/09。  延伸查詢new window
圖書論文
1.曹添旺、洪財隆(2011)。人民幣國際地位的改變及其對台灣經濟之影響。台灣金融的未來。臺北:新台灣國策智庫。  延伸查詢new window
 
 
 
 
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