Title

Estimated Macroeconomic Effects of a Chinese Yuan Appreciation

Authors

Ray C. Fair

Document Type

Discussion Paper

Publication Date

3-1-2010

CFDP Number

1755

CFDP Pages

18

Abstract

This paper uses a multicountry macroeconometric model to estimate the macroeconomic effects of a Chinese yuan appreciation. The estimated effects on U.S. output and employment are modest. Positive effects on U.S. output from a decrease in imports from China are offset by negative effects on U.S. output from increased inflation and from a decrease in U.S. exports to China because of a Chinese contraction.

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