04540oam 22010214 450 991078841330332120230828232703.01-4623-0340-41-4527-6730-01-283-51392-797866138263741-4519-0832-6(CKB)3360000000443628(EBL)3014339(SSID)ssj0000940134(PQKBManifestationID)11483773(PQKBTitleCode)TC0000940134(PQKBWorkID)10939144(PQKB)11709610(OCoLC)698585541(MiAaPQ)EBC3014339(IMF)WPIEE2006036(EXLCZ)99336000000044362820020129d2006 uf 0engur|n|---|||||txtccrDoes Inflation in China Affect the United States and Japan? /Luke Willard, Tarhan FeyziogluWashington, D.C. :International Monetary Fund,2006.1 online resource (31 p.)IMF Working Papers"February 2006."1-4518-6296-2 Includes bibliographical references (p. [28]-29).""Contents""; ""I. INTRODUCTION""; ""II. THEORETICAL UNDERPINNINGS""; ""III. EMPIRICAL RESULTS""; ""A. A Simple Model of Inflation""; ""B. VAR Models""; ""C. Variable Coefficient Models""; ""D. Using Subcomponents of CPI""; ""IV. CONCLUSIONS""; ""References""With China's share in global trade increasing rapidly, some argued in 2002-03 that China was exporting deflation to other countries as it was dumping cheap goods in mature markets. Later, others argued that China was sucking in commodities and thus causing sharp increases in global prices. The theoretical literature so far has provided mixed conclusions regarding the strength of international transmission of inflation. This paper uses a number of econometric techniques to assess the extent of the link between inflation rates between China and the United States and Japan. It finds only limited empirical evidence at the aggregate level for consumer price inflation in China leading to price changes in the United States and Japan. However, it finds some evidence that inflation in the United States has an impact on Chinese inflation, consistent with the literature that argues that inflation is propagated from the reserve currency economy to other economies. In either case, the impact is short lived. At a more disaggregate level, there appears to be stronger sector-specific linkages between prices in China and in the United States and Japan, both for food and at the household level for manufactured goods.IMF Working Papers; Working Paper ;No. 2006/036Inflation (Finance)ChinaInflation (Finance)United StatesExportsChinaPricesChinaExports and ImportsimfInflationimfMacroeconomicsimfPrice LevelimfDeflationimfOpen Economy MacroeconomicsimfAgriculture: Aggregate Supply and Demand AnalysisimfPricesimfTrade: GeneralimfInternational economicsimfImport pricesimfFood pricesimfConsumer pricesimfExportsimfInternational tradeimfImportsimfUnited StatesimfInflation (Finance)Inflation (Finance)ExportsPricesExports and ImportsInflationMacroeconomicsPrice LevelDeflationOpen Economy MacroeconomicsAgriculture: Aggregate Supply and Demand AnalysisPricesTrade: GeneralInternational economicsImport pricesFood pricesConsumer pricesExportsInternational tradeImportsWillard Luke1546571Feyzioglu Tarhan1168803International Monetary Fund.Asia and Pacific Dept.DcWaIMFBOOK9910788413303321Does Inflation in China Affect the United States and Japan3802269UNINA