关于汇率泡沫成因的实验研究

摘要

研究设计了三个风险偏好与汇率泡沫关系的实验，根据实验结果得出如下结论：第一，只要存在汇率风险，汇率泡沫就不可避免；第二，随着交易时间的延长，汇率泡沫呈逐渐增大的趋势。第三，汇率泡沫与汇率风险强度同向变化。据此提出了加强外汇汇率的风险控制等减少汇率泡沫的政策建议。%There are 3 experiments for exchange rate bubble in this paper. The main conclusions are as follows:(1) exchange rate bubble is evident if exchange rate risk exists;(2) exchange rate bubble increas-es along with the trading time;(3) exchange rate bubble and exchange rate risk have the same change di-rection. On the basis of experimental results,we proposed some feasible advices such as controlling risks.