Macroeconomic Cycles in China
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Summary:
This paper investigates the macroeconomic cycles China has experienced since the onset of reform in the late 1970s. It finds that the recurrent inflationary episodes that characterize the cycles are associated primarily with surges in the main components of aggregate demand. The most recent cycle stands out in achieving for the first time a reduction in inflation without a major slowdown in growth. The soft landing was facilitated by a number of factors, including increases in capacity as a result of the surge in investment spending early on in the cycle.
Series:
Working Paper No. 1997/135
Subject:
Credit Inflation Output gap Potential output Price adjustments Price controls Prices Production
English
Publication Date:
October 1, 1997
ISBN/ISSN:
9781451855678/1018-5941
Stock No:
WPIEA1351997
Pages:
35
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