欧元汇率平价探析

【摘要】 本文试图用实证的方法探讨欧元汇率与购买力平价及利率平价的关系,通过对欧元兑美元的购买力平价、利率平价及误差修正模型的简要分析,我们发现,虽然独自的平价关系难以成立,但综合起来看似乎可行,欧元汇率变动主要取决于欧元与美国的相对物价水平差异,利差对汇率变动有一点影响,但很小。更多还原

【Abstract】 ThispapertriestouseanempiricalapproachtotesttherelationshipbetweenEuro-USDexchangerateandthepurchasingpowerparity,alsotheinterestrateparty.AfteranalyzingthePPPandtheIRP,andtheErrorCorrectionModel,wehavefoundthatthoughthesingleparitytestisfailed,thecombinetestofparitiesmaybearealway,andtheexchangeratechangeforEuromainlydependsonthedifferencesofthepricelevelbetweentheEuroAreaandtheUnitedStates.Thedif-ferentialofinterestratehasalittleinfluenceonEuro-USDexchangerate.更多还原