Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/63578
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dc.contributor.authorZhang, Yinen_US
dc.contributor.authorWan, Guanghuaen_US
dc.date.accessioned2012-09-21T09:46:38Z-
dc.date.available2012-09-21T09:46:38Z-
dc.date.issued2004en_US
dc.identifier.isbn929190645Xen_US
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_US
dc.language.isoengen_US
dc.publisher|aUNU-WIDER |cHelsinkien_US
dc.relation.ispartofseries|aResearch Paper, UNU-WIDER, United Nations University (UNU) |x2004/56en_US
dc.subject.jelE32en_US
dc.subject.jelE49en_US
dc.subject.jelO53en_US
dc.subject.ddc330en_US
dc.subject.stwKonjunkturen_US
dc.subject.stwInflationen_US
dc.subject.stwChinaen_US
dc.titleOutput and price fluctuations in China's reform years: What role did money play?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn477332765en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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