IDENTIFYING THE SHOCKS DRIVING INFLATION IN CHINA

Pierre Siklos and Yang Zhang

Pacific Economic Review, 2010, vol. 15, issue 2, 204-223

Abstract: The time profile of inflation in China resembles the one experienced in major industrial countries. Given the uncertainty surrounding the sources of economic shocks, the present paper compares results from three sets of alternative identification conditions. Our principal finding is that inflation in China has been primarily driven by monetary factors. Although aggregate supply factors might have pushed inflation to cross the threshold leading to deflation, monetary policy is primarily responsible for Chinese inflationary outcomes.

Date: 2010
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https://doi.org/10.1111/j.1468-0106.2010.00498.x

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Working Paper: Identifying the Shocks Driving Inflation in China (2007)
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