RMB Exchange Rate Changes On Welfare Effects Of Research

With the rapid development of modern finance, the exchange between the global economy more closely, the exchange rate change and its effects more and more researchers are theoretical and practical importance. In today's highly developed material civilization, it is no longer fully enjoy the pursuit of material, more the pursuit of happiness. However, it is precisely the social welfare of the people important factor in happiness. This paper describes the mechanism of the exchange rate impact on social welfare, empirical analysis of exchange rate changes impact on social welfare.First, the article by the exchange rate of the relevant literature starting from the point of view of social welfare provision of the exchange rate can be obtained with the two paths through the market to influence the conclusions of social welfare; Secondly, the article to Cournot duopoly model as a starting point established welfare function model and a more complex economic environment as the basis to expand the Cournot duopoly model, establishment of a national multi-model and multi-national oligarchy oligopoly model, then the new oligopoly model, to establish a more complex benefit function model, drawn two important conclusions: when a country the exchange rate changes, exchange rate and price index of a country to change was the same, but with imports and total domestic supply is reverse change; social welfare changes and exchange rate changes closely related to initial and variation margin. Subsequently, the article manufacturer and exchange rate policies of individual behavior change on the complex variables of the model base point, deduce the complex changes in the welfare function model to compare changes in the welfare function before and after the model of exchange rate changes on the welfare changes in the function itself and the magnitude of the welfare function the impact of price fluctuations in the level obtained in the short term and long-term behavior of the volatility of the social welfare is just the opposite of the latter. Finally, the article on the actual data collection, screening, processing and analysis, the regression model equation, empirical analysis of how the market prices subject to exchange rate changes and monetary policy, exchange rate changes of a country, the price index, imports and domestic What was the total supply will change, social welfare-related changes in exchange rates are affected by factors which three issues, the conclusion is: First, the RMB exchange rate change can be through a direct effect on market prices, or indirectly through the impact of government monetary and fiscal policies policy change prices, then prices to influence social welfare; second changes in exchange rates can also be directly affected by the fiscal policy to social welfare, and social welfare changes by both the initial value of the exchange rate and amplitude of two factors. This paper also puts forward the notice of the monetary policy and fiscal policy coordination development, timely adjust international trade structure, to keep inflation high attention and control, to pay attention to the government's macro-regulation of compensation mechanism etc policy Suggestions.