EconStor >
United Nations University (UNU) >
World Institute for Development Economics Research (UNU-WIDER), United Nations University >
WIDER Research Papers, United Nations University (UNU) >

Please use this identifier to cite or link to this item:
Title:China's business cycles: Perspectives from an AD-AS model PDF Logo
Authors:Zhang, Yin
Wan, Guanghua
Issue Date:2004
Series/Report no.:Research Paper, UNU-WIDER, United Nations University (UNU) 2004/54
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 1985–90, but shifted to fixed investment and world demand in the second cycle of 1991–96 and the post-1997 deflation period; and (c) macroeconomic policies did not play an important part either in initiating or counteracting cyclical fluctuations.
Subjects:business cycle
structural VAR
demand shocks
supply shocks
Document Type:Working Paper
Appears in Collections:WIDER Research Papers, United Nations University (UNU)

Files in This Item:
File Description SizeFormat
477328121.pdf192.66 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.