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在既有的基于微观视角的包含两币的局部均衡模型中引入交易货币,发现国际贸易中计价货币选择的决定因素依次为:卖方市场结构、出口品差异化程度、出口国所占目标市场份额、其他出口商的计价策略和汇率的稳定性。在同质性商品的国际贸易中,计价货币的非同质性会导致货币垄断计价。其中,进口方货币的垄断计价地位较为稳定,出口方货币垄断计价情况很少出现,交易货币的垄断计价地位需要自身汇率的稳定和出口国较大的市场份额来维持。
The introduction of transactional currencies in the existing partial equilibrium model containing two currencies based on micro perspectives reveals that the determinants of the currency choice in international trade are: the market structure of the seller, the degree of differentiation of the export goods, the target market share of the exporting country , Pricing strategies of other exporters and exchange rate stability. In the international trade of homogeneous goods, the non-homogeneity of the denominated currency leads to monopoly pricing. Among them, monopoly valuation status of the importer’s currency is relatively stable, monopoly valuation of the exporter seldom occurs, and monopoly valuation of the transaction currency needs its own exchange rate stability and the larger market share of the exporting country to maintain.