The Diminishing Influences of Agricultural Output Changes on General Price Changes in China

Xian Xin, Xiuqing Wang, Xiaoyun Liu () and Xuefeng Mao ()

No 902, Working Papers from China Agricultural University, College of Economics and Management

Abstract: It has been argued that the influences of agriculture on the macro economy will be weakening along with economic development. We in this paper assess the impact of agricultural output changes on the general price level over time with China as an example. Our results suggest that China witnessed a declining influence of agricultural output changes on general price changes. The contribution of given agricultural output change on the general price change in 2005 was merely less than 60% of that in 1987, which in turn implies that macro policies targeting to curb general inflation via boosting agricultural output will be less effective as those of twenty years ago. We generate these results with the general equilibrium model calibrated to aggregated China¡¯s input-output tables of 1987, 1997, and 2005.

Keywords: Inflation; General Equilibrium Model (search for similar items in EconPapers)
JEL-codes: E31 Q10 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2009-05
New Economics Papers: this item is included in nep-agr, nep-mac and nep-tra
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http://www.cau.edu.cn/cem/news/newsfj/2009E002.pdf (application/pdf)

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Journal Article: The diminishing influences of agricultural output changes on general price changes in China (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:cau:wpaper:0902

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