05138oam 22013214 450 991081489950332120240410162304.01-4623-2341-31-4527-0966-11-283-56982-51-4519-2051-29786613882271(CKB)3360000000445695(EBL)3012555(SSID)ssj0001474902(PQKBManifestationID)11964638(PQKBTitleCode)TC0001474902(PQKBWorkID)11472513(PQKB)10189227(OCoLC)535146966(MiAaPQ)EBC3012555(IMF)WPIEE2502003(EXLCZ)99336000000044569520020129d2003 uf 0engur|n|---|||||txtccrDeterminants of Deflation in Hong Kong SAR /Papa N'Diaye1st ed.Washington, D.C. :International Monetary Fund,2003.1 online resource (28 p.)IMF Working PapersCover title."December 2003"--Caption.1-4518-7591-6 Includes bibliographical references (p. 27).""Contents""; ""I. OVERVIEW""; ""II. THE FRAMEWORK""; ""III. RESULTS""; ""IV. INTERPRETING THE RESULTS""; ""V. CONCLUSION""; ""APPENDIX""; ""References""This paper presents a comprehensive econometric analysis of the determinants of deflation in Hong Kong SAR. The analysis helps to determine the relative contributions of factors such as increased productivity, scarce money supply, and excess capacity in determining deflation. The main conclusion is that the effects of permanent shocks, such as productivity shocks and shocks related to changes in the money supply and price convergence with trading partners, have become more important in explaining deflation. In addition, the effects of temporary shifts in aggregate demand have been perpetuated by negative wealth and balance-sheet effects in the corporate and household sectors arising from asset-price declines over the past five years.IMF Working Papers; Working Paper ;No. 2003/250Deflation (Finance)ChinaHong KongEconometric modelsBusiness cyclesMacroeconomicsimfMoney and Monetary PolicyimfProduction and Operations ManagementimfTime-Series ModelsimfDynamic Quantile RegressionsimfDynamic Treatment Effect ModelsimfDiffusion ProcessesimfState Space ModelsimfMoney SupplyimfCreditimfMoney MultipliersimfMonetary PolicyimfCentral Banks and Their PoliciesimfPrice LevelimfInflationimfDeflationimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfMacroeconomics: ProductionimfMonetary economicsimfMonetary baseimfProductivityimfConsumer price indexesimfAsset pricesimfMoneyimfPricesimfProductionimfMoney supplyimfIndustrial productivityimfPrice indexesimfHong Kong (China)Economic conditionsEconometric modelsHong Kong (China)Economic policyEconometric modelsHong Kong Special Administrative Region, People's Republic of ChinaimfDeflation (Finance)Econometric models.Business cycles.MacroeconomicsMoney and Monetary PolicyProduction and Operations ManagementTime-Series ModelsDynamic Quantile RegressionsDynamic Treatment Effect ModelsDiffusion ProcessesState Space ModelsMoney SupplyCreditMoney MultipliersMonetary PolicyCentral Banks and Their PoliciesPrice LevelInflationDeflationMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralMacroeconomics: ProductionMonetary economicsMonetary baseProductivityConsumer price indexesAsset pricesMoneyPricesProductionMoney supplyIndustrial productivityPrice indexesN'Diaye Papa1624126International Monetary Fund.Asia and Pacific Dept.DcWaIMFBOOK9910814899503321Determinants of Deflation in Hong Kong SAR3958941UNINA