@techreport{Zhang2004China,
abstract = {This paper represents a first attempt to study China's business cycles using a formal analytical framework, namely, a structural VAR model. It is found that: (a) demand shocks were the dominant source of macroeconomic fluctuations, but supply shocks had gained more importance over time; (b) the driving forces of demand shocks were consumption and fixed investment in the first cycle of 1985\textendash{}90, but shifted to fixed investment and world demand in the second cycle of 1991\textendash{}96 and the post-1997 deflation period; and (c) macroeconomic policies did not play an important part either in initiating or counteracting cyclical fluctuations.},
address = {Helsinki},
author = {Yin Zhang and Guanghua Wan},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
isbn = {9291906433},
keywords = {E32; O53; P24; 330; business cycle; structural VAR; demand shocks; supply shocks; China; Konjunktur; Schock; VAR-Modell; China},
language = {eng},
number = {2004/54},
publisher = {UNU-WIDER},
title = {China's business cycles: Perspectives from an AD-AS model},
type = {Research Paper, UNU-WIDER, United Nations University (UNU)},
url = {http://hdl.handle.net/10419/63261},
year = {2004}
}
