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"Estimated Macroeconomic Effects of a Chinese Yuan Appreciation" Business Economics, October 2010, 233-243.
pdf file (1,147 KB).


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.