ツチヤ　ヨウイチ   TSUCHIYA YOICHI   土屋　陽一    所属   明治大学  商学部    職種   専任教授
言語種別	英語
発行・発表の年月	2015/10
形態種別	学術雑誌
査読	査読あり
標題	Directional accuracy tests of Chinese renminbi forecasts
執筆形態	共著(筆頭者)
掲載誌名	Journal of Chinese Economic and Business Studies
掲載区分	国外
出版社・発行元	Routledge
巻・号・頁	13(4),pp.397-406
著者・共著者	Yoichi Tsuchiya, Satoshi Suehara
概要	This study investigates the directional accuracy of Chinese renminbi exchange rate forecasts by professional forecasters. The forecast with a horizon of one year is useful, whereas the forecasts with forecast horizons of one and three months are not useful in predicting the direction of the exchange rate change. The results for the long-term forecasts suggest that forecasters believe that the government maintains its foreign exchange rate policy of renminbi appreciation. In contrast, short-term forecasts show consistent evidence of exchange rate unpredictability.
DOI	10.1080/14765284.2015.1106755
ISSN	1476-5292