Data for: A Darwinian perspective on “exchange rate undervaluation”

Abstract of associated article: This paper studies how status competition for marriage partners can generate surprising effects on the real exchange rate (RER). In theory, a rise in the sex ratio (increasing relative surplus of men) can generate a decline in the RER. The effect can be quantitatively large if the biological desire for a marriage partner is strong. We also provide within-China and cross-country empirical evidence to support the theory. As an application, our cross-country estimation suggests that sex ratio as well as other factors in the existing literature can account for the recent evolution in Chinese RER almost completely.

相关论文摘要：本文研究择偶过程中的地位竞争如何对实际汇率（real exchange rate, RER）产生出乎意料的影响。理论分析表明，性别比上升（男性相对过剩程度加剧）将引发实际汇率下行；当个体对婚恋伴侣的生理诉求较强时，该效应的量化规模将颇为显著。本文还提供了中国国内及跨国层面的实证证据以支撑该理论。作为一项应用，跨国估算结果显示，性别比与现有文献中提及的其他因素，几乎可以完全解释中国实际汇率的近期演变。