Cheung, Yin-Wong; Chinn, Menzie D.; Qian, Xing Wang - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2012
sensitive to the treatment of time trends. Estimates of aggregate imports are more problematic. In many cases, Chinese aggregate … imports actually rise in response to a RMB depreciation and decline with Chinese GDP. This is true even after accounting for … the fact a substantial share of imports are subsequently incorporated into Chinese exports. We find that some of these …