OUTPUT-INFLATION TRADEOFF IN CHINA

Globalization , the Output - Inflation Tradeoff , and Inflation

Output Gaps and Inflation in Mainland China

We estimate output gaps using three methods for Mainland China on annual data spanning 1978-2003. The estimates are similar and appear to co-move with inflation. Standard Phillips curves, however, do not fit the data well. This may reflect the omission of some important variable(s) such as the effect of price deregulation, trade liberalisation and/or changes in the exchange rate regime. We rees...

FIW – Working Paper Globalization , the Output - Inflation Tradeoff , and Inflation Harald Badinger

This paper provides a comprehensive assessment of the relation between inflation and globalization, measured in terms of trade and financial openness. Using a large crosssection of 91 countries covering the period 1985-2004, we establish two main empirical regularities. Both higher trade and financial openness i) reduce central bank’s inflation bias,yielding lower average inflation, and ii) are...

Output gaps and inflation in Mainland China, February 2006

BIS Working Papers are written by members of the Monetary and Economic Department of the Bank for International Settlements, and from time to time by other economists, and are published by the Bank. The views expressed in them are those of their authors and not necessarily the views of the BIS. Abstract We estimate output gaps using three methods for Mainland China on annual data spanning 1982-...

Inflation, Inflation Uncertainty and Output in Tunisia

Reply : We think that the Tunisian case is also interesting for a broad audience. Tunisia has made important progress over the last decade toward establishing a sound bank intermediation, deepening its financial market, mobilizing domestic financing, and using indirect market-based monetary policy instruments. Monetary policy is useful to obtain a stable macroeconomic environment in favor of a ...