Robert M. La Follette School of Public Affairs

Pitfalls in Measuring Exchange Rate Misalignment: The Yuan and Other Currencies

Using a framework built around the relationship between relative price and relative output levels, the authors find little evidence that the renminbi is undervalued. The misalignment they detected in previous work disappears in this data set.

Additional Info

  • Volume or issue no.: La Follette School Working Paper No. 2009-002
  • Author(s): Yin-Wong Cheung, Menzie D. Chinn and Eiji Fujii