Money and the Consumption Goods Market in China

Richard Portes and Anita Santorum

No 2143, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper studies the relations between money and other macroeconomic variables as well as excess demand in the consumption goods market for the case of China, 1954-83. We explicitly recognize the endogeneity of money in the CPE and do not impose (but instead test) some common restrictive assumptions; we assess the extent of aggregate excess demand (supply) in a macroeconomic disequilibrium model; and we allow at the macro level for the possible coexistence of micro markets in different states of excess demand or supply (shortages or slacks). We find bidirectional causality between money and income; that M[sub0] behaves in a manner more suited to building simple, conventional models than does M[sub 2]; and that there has been a mixed pattern of excess supplies and demands over the three decades.

Date: 1987-02
Note: ITI IFM
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (17)

Published as Portes, Richard and Anita Santorum. "Money and the Consumption Goods Marketin China," Journal of Comparative Economics, Vol. 11, No. 3, (September 1987).

Downloads: (external link)
http://www.nber.org/papers/w2143.pdf (application/pdf)

Related works:
Journal Article: Money and the consumption goods market in China (1987)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:2143

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w2143

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().