Nothing Special   »   [go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/sae/intare/v1y1997i1p151-174.html
   My bibliography  Save this article

A Simple Monetary Model of the Chinese Ecdonomy, 1958–1978

Author

Listed:
  • Chang-kyu Lee
Abstract
In this paper, I construct a simple monetary model of the Chinese economy in the period of 1958–78. While, in previous researches, the demand for currency and a reaction function of monetary policy in China are generally investigated separately, in this paper both equations are combined so that the interactions between the household behavior of holding currency and the reaction of monetary policy makers can be investigated simultaneously. In constructing the model, I acknowledge some limitations that a few restricted assumptions are made and that I do not provide the rigorous theoretical proof. Despite these limitations, this simple monetary model exhibits relatively good performance from the ex-post historical simulation with the published data from Statistical Yearbook of China.

Suggested Citation

  • Chang-kyu Lee, 1997. "A Simple Monetary Model of the Chinese Ecdonomy, 1958–1978," International Area Studies Review, Center for International Area Studies, Hankuk University of Foreign Studies, vol. 1(1), pages 151-174, December.
    • Handle: RePEc:sae:intare:v:1:y:1997:i:1:p:151-174
    DOI: 10.1177/223386599700100110
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/223386599700100110
    Download Restriction: no
    File URL: https://libkey.io/10.1177/223386599700100110?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Feltenstein, Andrew & Farhadian, Ziba, 1987. "Fiscal Policy, Monetary Targets, and the Price Level in a Centrally Planned Economy: An Application to the Case of China," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 19(2), pages 137-156, May.
    2. Roland, Gerard, 1987. "Investment growth fluctuations in the Soviet Union: An econometric analysis," Journal of Comparative Economics, Elsevier, vol. 11(2), pages 192-206, June.
    3. Eckstein,Alexander, 1977. "China's Economic Revolution," Cambridge Books, Cambridge University Press, number 9780521291897, September.
    4. Ma, Guonan, 1993. "Macroeconomic disequilibrium, structural changes, and the household savings and money demand in China," Journal of Development Economics, Elsevier, vol. 41(1), pages 115-136, June.
    5. Dusansky, Richard, 1989. "The Demand for Money and Goods in the Theory of Consumer Choice with Money," American Economic Review, American Economic Association, vol. 79(4), pages 895-901, September.
    6. Olivier Jean Blanchard & Stanley Fischer, 1989. "Lectures on Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262022834, April.
    7. Ann F. Friedlaender, 1973. "Macro Policy Goals in the Postwar Period: A Study in Revealed Preference," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 87(1), pages 25-43.
    8. Christin, Dominique E. & Short, Nancy C., 1991. "Testing a planners' reaction function using disequilibrium model excess demand indicators: The case of Poland," Journal of Comparative Economics, Elsevier, vol. 15(1), pages 122-131, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Akhand Akhtar Hossain, 2009. "Central Banking and Monetary Policy in the Asia-Pacific," Books, Edward Elgar Publishing, number 12777.
    2. Anne-Laure Delatte & Julien Fouquau & Carsten Holz, 2014. "Explaining money demand in China during the transition from a centrally planned to a market-based monetary system," Post-Communist Economies, Taylor & Francis Journals, vol. 26(3), pages 376-400, September.
    3. Austin, Darran & Ward, Bert & Dalziel, Paul, 2007. "The demand for money in China 1987-2004: A non-linear modelling approach," China Economic Review, Elsevier, vol. 18(2), pages 190-204.
    4. Mohsen Bahmani-Oskooee & Yongqing Wang, 2007. "How Stable Is The Demand For Money In China?," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 32(1), pages 21-33, June.
    5. Gary Wong & Qiao Yu, 2001. "Inverse Demand Systems for Composite Liquid Assets: Evidence from China," School of Economics and Finance Discussion Papers and Working Papers Series 097, School of Economics and Finance, Queensland University of Technology.
    6. Xiaoming Li, 1997. "Consumption demand, saving behaviour and rational expectations: an application of disequilibrium modelling to China 1952-92," Applied Economics, Taylor & Francis Journals, vol. 29(11), pages 1411-1424.
    7. repec:zbw:bofitp:2011_027 is not listed on IDEAS
    8. Anne-Laure Delatte & Julien Fouquau & Carsten Holz, 2014. "Explaining money demand in China during the transition from a centrally planned to a market-based monetary system," Post-Communist Economies, Taylor & Francis Journals, vol. 26(3), pages 376-400, September.
    9. Ge Wu, 2009. "Broad Money Demand and Asset Substitution in China," IMF Working Papers 2009/131, International Monetary Fund.
    10. John Haltiwanger & Scott Schuh, 1999. "Gross job flows between plants and industries," New England Economic Review, Federal Reserve Bank of Boston, issue Mar, pages 41-64.
    11. Christian Groth & Karl-Josef Koch & Thomas Steger, 2006. "Rethinking the Concept of Long-Run Economic Growth," CESifo Working Paper Series 1701, CESifo.
    12. Smulders, Sjak & Gradus, Raymond, 1996. "Pollution abatement and long-term growth," European Journal of Political Economy, Elsevier, vol. 12(3), pages 505-532, November.
    13. Andersen, Torben M., 2005. "Product market integration, wage dispersion and unemployment," Labour Economics, Elsevier, vol. 12(3), pages 379-406, June.
    14. Radwanski, Juliusz, 2020. "On the Purchasing Power of Money in an Exchange Economy," MPRA Paper 104244, University Library of Munich, Germany.
    15. repec:hal:wpspec:info:hdl:2441/2961 is not listed on IDEAS
    16. Loewy, Michael B., 1995. "Equilibrium policy with dynamically naive agents," Journal of Macroeconomics, Elsevier, vol. 17(2), pages 319-331.
    17. Picard, Pierre M. & Toulemonde, Eric, 2006. "Firms agglomeration and unions," European Economic Review, Elsevier, vol. 50(3), pages 669-694, April.
    18. Torben M. Andersen, 2003. "Wage formation and European integration," European Economy - Economic Papers 2008 - 2015 188, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    19. Lin, Hsin-Yi & Chu, Hao-Pang, 2013. "Are fiscal deficits inflationary?," Journal of International Money and Finance, Elsevier, vol. 32(C), pages 214-233.
    20. Frederick Ploeg & Aart Zeeuw, 1992. "International aspects of pollution control," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 2(2), pages 117-139, March.
    21. Yang Zaigui, 2005. "Pay-As-You-Go Public Pension Systems: Two-sided Altruism and Endogenous Growth," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 1(1), pages 1-13, June.
    22. Klaus Reiner Schenk-Hopp�, "undated". "Economic Growth and Business Cycles: A Critical Comment on Detrending Time Series (Revised Version)," IEW - Working Papers 054, Institute for Empirical Research in Economics - University of Zurich.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:intare:v:1:y:1997:i:1:p:151-174. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: http://www.hufs.ac.kr/user/hufsenglish/re_1.jsp .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.