Research Article
What Affects Exchange Rate When COVID-19 Spread
@INPROCEEDINGS{10.4108/eai.18-11-2022.2326762, author={Junbing Lin and Ziqin Xiong and Jie Xu}, title={What Affects Exchange Rate When COVID-19 Spread}, proceedings={Proceedings of the 4th International Conference on Economic Management and Model Engineering, ICEMME 2022, November 18-20, 2022, Nanjing, China}, publisher={EAI}, proceedings_a={ICEMME}, year={2023}, month={2}, keywords={exchange rate; covid-19}, doi={10.4108/eai.18-11-2022.2326762} }- Junbing Lin
Ziqin Xiong
Jie Xu
Year: 2023
What Affects Exchange Rate When COVID-19 Spread
ICEMME
EAI
DOI: 10.4108/eai.18-11-2022.2326762
Abstract
This essay focuses on what factors would have impacts on the exchange rate between USD and CNY before and after the pandemic of COVID-19, and what economic results the pandemic brought. According to the research, the factors, inflation rate of the US, effective federal funds rate, real disposable personal income, and unemployment rate were studied and summarized one by one and have been analyzed in a linear regression simultaneously. Besides, this paper also ran multiple regressions to see the comparison before and after the COVID-19. After the analysis, the conclusion showed that the factors of inflation and unemployment rate which change greatly before and after the COVID-19 have significant effects on the exchange rate, but some factors of real disposable personal income that change slightly have no obvious linear relationship with the exchange rate. In a word, some economic indexes that have been affected should be taken into account to make a prediction and help the economy recover in the future, especially when the effect of COVID-19 was evident.