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这个研究调查了亚洲一个经济实体的实际汇率决定的情况。这个方法显示:实际汇率和贸易价格比率是共同被决定的。从长期来看,生产力差异、贸易价格比率、实际的石油价格和储备差异在实际汇率决定上是很重要的。然而,这些在实际汇率决定上有着重要影响的变量在不同国家是不一样的。并且,广义预期误差方差分解的结果表明:这些变量对实际汇率的贡献度在不同国家也是不一样的。
This study examined the decision of the real exchange rate of an economic entity in Asia. This method shows that the real exchange rate and the trade price ratio are jointly determined. In the long run, differences in productivity, trade-price ratios, real oil prices and reserves differences are important in determining actual exchange rates. However, these variables that have a significant impact on real exchange rate decisions vary from country to country. And, the result of variance decomposition of generalized expected error shows that the contribution of these variables to the real exchange rate is also different in different countries.