Fiscal policy, monetary targets, and the price level in a centrally planned economy : an application to the case of China (English)

This paper applies a monetary model of a planned economy to China. A supply equation derives the change in broad money corresponding to government transactions at official prices. There is an unobserved true price index that determines consumers' demands for money. Consumer demands for real cash balances, as well as the divergence between the official and true price indices are derived. The model is estimated and it is found that changes in the money...

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Author

Feltenstein, Andrew;

Farhadian, Ziba;
Document Date
1985/08/31
Document Type
Departmental Working Paper
Report Number
CPD8532
Volume No
1
Total Volume(s)
1
Country
China,
Region
East Asia and Pacific,
Disclosure Date
2017/11/15
Disclosure Status
Disclosed
Doc Name
Fiscal policy, monetary targets, and the price level in a centrally planned economy : an application to the case of China
Keywords
rate of inflation

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Citation

Feltenstein, Andrew; Farhadian, Ziba.

Fiscal policy, monetary targets, and the price level in a centrally planned economy : an application to the case of China (English). Country Policy Department discussion paper|no. CPD 1985-32 Washington, DC: World Bank. http://documents.worldbank.org/curated/en/833581491999915786

Fiscal policy, monetary targets, and the price level in a centrally planned economy : an application to the case of China (English)

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