Estimating China's 'equilibrium' real ex rate

This IMF Working Paper looks at a sample of studies that have attempted to estimate the "equilibrium" real value of China's currency. It suggests the wide variation in such estimates can be explained by various factors including the different methodologies used.

The number of studies attempting to estimate the "equilibrium" real value of China's currency has proliferated in recent years as the country's presence in world markets has grown. These studies have sought to establish whether or not a

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