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1、對(duì)外經(jīng)濟(jì)貿(mào)易大學(xué)碩士學(xué)位論文EmpiricalAnalysisoftheImpactofExchangeRateChangeonPrice姓名：張斌申請(qǐng)學(xué)位級(jí)別：碩士專業(yè)：金融學(xué)指導(dǎo)教師：林桂軍201103AbstractPricesandexchangeratesarethecoreoftheeconomicvariablesinanopeneconomy,andtherearealsoextremelycloserelationshipbetweenthesetwoeconomicvariables·Inthecontinuousdevelopme
2、ntofthehistoryofexchangeratetheory,thepriceandexchangeraterelationshiphavealwaysbeenintertwined．Afterreformand0penj．吡gupfor30years，China’seconomyhastransformedfromahighlycentralizedplannedeconomytowardsafreeandopenmarketeconomy．ThispaperistotestwhetherLawofOnePriceiseffectiveinC
3、hinaandonwhatextentitcantakeeffect．ChapteronereviewshistoryofRenminbiexchangerate，Chaptertwogenerallyreviewstherelationsl邱betweenexchangerateandprice，Chapterthreeistheempiricalanalysisofinnuenceofexchangerateondomesticprice．Firstconfn'mthevariables：domesticandforeignCPI。theRMBex
4、changerate，thenuseADFTest，Co．integrationTesttoinvestigatetheinfluenceofexchangerateondomesticpriceandanalyzes廿leresultsofthemodelandChapterfourbringsforwardsuggestions．Keywords：exchangeratechange；pricelevd；Consumerpriceindex(CPI)；ADFTest；Co-integrationmodelChapter1Introduction1．
5、1OverviewAfterreformandopeningupfor30years，China’Seconomyhastransformedfromahighlycentralizedplannedeconomytoafreeandopenmarketeconomy．RMBexchangeratesystem，aSanimportantmacropolicytool，hasexperiencedfourimportantreform．From1979to1984，lU仍exchangeratechangedfromsingletocomplexthe
6、nagaintoasinglecurrencyexchangerate．From1985～1993，theofficialexchangerateandcurrencyexchangerateadjustpricecoexist．Since1994，Chinaimplementedasingle，managedfloatingexchangeratethatbasedonmarketdemandandsupply．UntilJuly21st,2005，RMBbegantostoppeggingtodollar,ithasimplementedamana
7、gedfloatingexchangeratesystemthatbasedonmarketdemandandsupplywinlreferencetoabasketofcurrencies．Accordingtothepeople’SbankofChina’SmiddlepricedatastatisticsoftheRMBexchangerate，overthepastthreeyearsofnewyuanreformpractice，themiddlepriceofRMBagainstdollarreachedrecordhigh,uptoJul
8、y2008ithasrisenby21％．Meanwhile，theconsumerprice
