Wu, Libo; Li, Jing; Zhang, ZhongXiang - East-West Center - 2011
This paper aims to examine the impacts of oil-price shocks on China’s price levels. To that end, we develop a partial …-through mechanism during oil-price shocks. Using the models of both China and the U.S., we separate the impact of price control from … those of other factors leading to China’s price stickiness under oil-price shocks. The results show a sharp contrast between …