Fiscal policy, monetary targets, and the price level in a centrally planned economy : an application to the case of China (anglais)

This paper applies a monetary model of a planned economy to China. A supply equation derives the change in broad money corresponding to government transactions at official prices. There is an unobserved true price index that determines consumers' demands for money. Consumer demands for real cash balances, as well as the divergence between the official and true price indices are derived. The model is estimated and it is found that changes in the money...

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INFORMATION

Auteur

Feltenstein, Andrew;

Farhadian, Ziba;
Date du document
1985/08/31
Type de document
Document de travail départemental
Numéro du rapport
CPD8532
Volume
1
Total Volume(s)
1
Pays
Chine,
Région
Asie de l’Est et Pacifique,
Date de publication
2017/11/15
Disclosure Status
Disclosed
Titre du rapport
Fiscal policy, monetary targets, and the price level in a centrally planned economy : an application to the case of China
Mots clé
rate of inflation

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Fiscal policy, monetary targets, and the price level in a centrally planned economy : an application to the case of China (anglais)

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