货币完全自由兑换对价格影响分析

传统购买力平价理论认为价格决定汇率,但汇率实际对价格也有反作用,运用利率平价理论,均衡条件下价格需遵循一定原则变动。同时考虑经济体系中实体经济与货币经济,商品贸易对汇率决定具有基础性作用。资本自由流动时资金量无限和有限对本国价格造成的影响不同,其中部分数量关系可以通过原有汇率理论得出,但价格调整过程和机制仍需结合现代金融理论进行研究,这也是一国实现货币完全自由兑换应考虑的问题,综合运用不同汇率理论分析实际问题是研究汇率时的可行方法。

Analysis of the Effects of Entirely Free Convertible Currency on Prices

Traditional purchasing power parity theory believes prices would determine exchange rate,but in fact exchange rate has a feedback to prices.Applying the interest rate parity theory,prices will follow certain rules under the circumstance of equilibrium.Considering entity economy and money economy in the economic system,the commodity trades have a basic effect on the determination of exchange rate.When capital flows freely,the infinity and finity of capital amount play different roles in domestic prices.And partial quantity relations may be derived from original exchange rate theories.But the adjusting processes of prices and mechanisms still need to be studied with the help of modern financial theories.This must be also thought over for a country to realize entirely free convertible currency.Applying different exchange rate theories synthetically to analyze practice problems is feasible.