货币主义汇率理论是现代汇率决定理论的基石，在金融学领域具有重要意义和崇高的地位。以后的各种货币理论和资产结构平衡理论等均是建立在货币主义汇率理论基础之上，而弹性价格货币模型又是货币主义模型最基本的一种形式,在众多汇率决定理论中居重要地位。本文则基于人民币汇率对弹性价格货币模型进行实证检验，选取中美（1994年-2009年）的季度数据，采用协整的方法，看其对人民币汇率是否保持长期稳定的关系。

货币主义汇率理论：Monetary Model
汇率决定理论：Exchange Rate Determination Theory
资产结构平衡理论：asset atructure balance theory
弹性价格货币模型：flexible price monetary model
协整：Cointegration

Monetary Model is the basement of Modern Monetary Model,it has important meaning and grand position in the domain of Economics. the various forms of currency theory and asset structure balance theory are based on Monetary Model,nevertheless,flexible price monetary model is the most basal form of Monetary Model, it's in a important position among many of Exchange Rate Determination Theories.This paper is based on the RMB exchange rate to make a demonstration examination for flexible price monetary model,selecting the quarter data between China and America and adopting the method of cointegration to look into it is whether let the RMB exchange rate keep a long and hard relation.