rate movements start to influence the price inflation in China in a significant way. This paper estimates a structural …

-reform regime is characterized by high inflation, passive monetary policy and persistent responses to shocks. The post-reform regime … is characterized by low inflation, active and credible monetary policy and markedly less persistent responses to shocks …

This paper constructs a quarterly series of GDP deflator inflation for China from 1979 to 2009 and tests for a … structural break with an unknown change point in the dynamic inflation process. Empirical results suggest a significant … structural change in inflation persistence. Employing a counterfactual simulation method, we show that the structural change is …

due to nominal rigidities, drives the dynamics of inflation relative to expected inflation and lagged inflation. This … paper exploits the empirical success of the New Keynesian Phillips curve in explaining China's inflation dynamics with a new …, based on a multivariate dynamic model featuring distinct interactions among inflation, money, and real output in China. The …

money growth shock, exchange rate appreciates and inflation falls. Money growth shocks are transmitted to the economy … inflation. …

We study optimal monetary policy for a small open economy in a model where both inflation and output show persistence … indexation to past inflation. The message conveyed from this study can be viewed as twofold. First, full stabilization of … correlation in domestic inflation, whereas under full stabilization of domestic prices the output gap displays some serial …