"Estimated Macroeconomic Effects of a Chinese Yuan Appreciation," Business Economics, 2010.Paper: pdf file
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 are roughly offset by negative effects from a decrease in Chinese output and an increase in U.S. import prices.
Results in this paper can be duplicated using the MCE model on this website. See Chapter 7 of The MCE Model Workbook.