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Inflation in Mainland China - Modelling a Roller Coaster Ride

Michael Funke

No 152005, Working Papers from Hong Kong Institute for Monetary Research

Abstract: The New Keynesian Phillips curve (NKPC) posits the dynamics of inflation as forward looking and related to marginal costs. In this paper we examine the empirical relevance of the NKPC for mainland China. The empirical results indicate that an augmented (hybrid) NKPC gives results that are consistent with the data generating process. It is in this respect that the NKPC provides useful insights into the nature of inflation dynamics in mainland China as well as useful insights for the conduct of monetary policy.

Keywords: China; inflation; New Keynesian Phillips curve (search for similar items in EconPapers)
JEL-codes: C22 E31 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2005-08
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Working Paper: Inflation in mainland China: modelling a roller coaster ride (2005) Downloads
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