NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Pitfalls in Measuring Exchange Rate Misalignment: The Yuan and Other Currencies

Yin-Wong Cheung, Menzie D. Chinn, Eiji Fujii

NBER Working Paper No. 14168
Issued in July 2008

---- Acknowledgements -----

We thank for useful comments Jeffrey Frankel, the discussant, Christoph Fischer, and participants at the workshop "Panel Methods and Open Economies", held at Goethe University Frankfurt, May 21, 2008, organized by Michael Binder and Heinz Herrmann. Kavan Kucko provided assistance in collecting data, and Hiro Ito provided additional data. Financial support of faculty research funds of the University of California at Santa Cruz, the University of Wisconsin, the Japan Center for Economic Research grant, and the Nomura Foundation for Social Science research grant is gratefully acknowledged. The views expressed are solely those of the authors, and do not necessarily reflect the views of the National Bureau of Economic Research.

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