We estimate output gaps using three methods for Mainland China on annual data panning 1982-2003. The estimates are similar and appear to co-move with inflation. Standards Phillips curves, however, do not fit the data well. This may reflect the omission of some important variable(s) such as the effect of price deregulation, trade liberalisation and /or changes in the exchange rate regime. We reestimate the Phillips curves assuming that there is an unobserved variable that follows an AR(2) process. The modified model fits the data much better and accounts for some of the surprising features of the simple Phillips curve estimates.
| Jezik: | Angleški jezik |
|---|
| Ključne besede: | Kitajska, monetarna politika, inflacija, ekonometrija, modeli, kalkulacije, China, monetary policy, inflation, econometrics, models, calculations |
|---|
| Vrsta gradiva: | Delo ni kategorizirano (r6) |
|---|
| Organizacija: | EF - Ekonomska fakulteta |
|---|
| Leto izida: | 2006 |
|---|
| Založnik: | Bank for International Settlements, Monetary and Economic Dept. |
|---|
| Št. strani: | 27 str. |
|---|
| Kraj: | Basel (Switzerland) |
|---|
| UDK: | 336 |
|---|
| COBISS.SI-ID: | 17646310  |
|---|
| Število ogledov: | 1049 |
|---|
| Število prenosov: | 449 |
|---|
| Metapodatki: |     |
|---|
| |
| Skupna ocena: | (0 glasov) |
|---|
| Vaša ocena: | Ocenjevanje je dovoljeno samo prijavljenim uporabnikom. |
|---|
|
:
|
|
|---|
| Objavi na: |  |
|---|
|
|
