标题：An Empirical Analysis of the Relationship between RMB Exchange Rate and Sino-US Trade Imbalance
作者：Liu, Xin-Ying; Li, Rui; Cai, Hui
作者机构：[Liu, Xin-Ying; Li, Rui; Cai, Hui] Shandong Univ Finance & Econ, Dept Int Econ & Trade, Jinan 250014, Shandong, Peoples R China.
通讯作者地址：[Li, R]Shandong Univ Finance & Econ, Dept Int Econ & Trade, Jinan 250014, Shandong, Peoples R China.
来源：PROCEEDINGS OF THE 2019 4TH INTERNATIONAL CONFERENCE ON FINANCIAL INNOVATION AND ECONOMIC DEVELOPMENT (ICFIED 2019)
关键词：Unbalanced trade; exchange rate; Co-integration text
摘要：With the development of Sino-U.S. trade, the trade friction has also intensified. Due to the continuous expansion of China's trade surplus, the United States believes that the serious undervaluation of the RMB is the main reason. The paper constructs an empirical analysis model, selects quarterly data from the first quarter of 2010 to the fourth quarter of 2017, and empirically analyzes the real exchange rate and the Sino-U.S. trade using methods found that there is a long-term equilibrium relationship between the trade surplus and real exchange rate. Finally, this article proposes policy suggestions on how to ease the trade imbalance between China and the United States.