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dc.contributor.authorZhang, Yinen
dc.contributor.authorWan, Guanghuaen
dc.date.accessioned2012-09-21T09:46:38Z-
dc.date.available2012-09-21T09:46:38Z-
dc.date.issued2004-
dc.identifier.isbn929190645Xen
dc.identifier.urihttp://hdl.handle.net/10419/63578-
dc.description.abstractThe Chinese economy underwent cyclical fluctuations in growth and inflation in the reform period. Contrasting views exist on the role of money in such fluctuations. This paper assesses these views employing structural VEC models based on the exchange equation. It is found that in the long run money accommodates, rather than causes, changes in output and prices. In the short run, price fluctuations are mostly attributable to shocks that have permanent effects on prices and money but not on real output. These shocks also account for a large proportion of fluctuations in money, and strongly influence the movements of output. – money ; output fluctuation ; price fluctuation ; structural VEC model ; Chinaen
dc.language.isoengen
dc.publisher|aThe United Nations University World Institute for Development Economics Research (UNU-WIDER) |cHelsinkien
dc.relation.ispartofseries|aWIDER Research Paper |x2004/56en
dc.subject.jelE32en
dc.subject.jelE49en
dc.subject.jelO53en
dc.subject.ddc330en
dc.subject.stwKonjunkturen
dc.subject.stwInflationen
dc.subject.stwChinaen
dc.titleOutput and price fluctuations in China's reform years: What role did money play?-
dc.typeWorking Paperen
dc.identifier.ppn477332765en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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