05337oam 22014054 450 991095466680332120250426110546.0978661388227197814623234181462323413978145270966614527096619781283569828128356982597814519205121451920512(CKB)3360000000445695(EBL)3012555(SSID)ssj0001474902(PQKBManifestationID)11964638(PQKBTitleCode)TC0001474902(PQKBWorkID)11472513(PQKB)10189227(OCoLC)535146966(MiAaPQ)EBC3012555(IMF)WPIEE2502003(IMF)WPIEA2502003WPIEA2502003(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.9781451875911 1451875916 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 cyclesAsset pricesimfCentral Banks and Their PoliciesimfConsumer price indexesimfCreditimfDeflationimfDiffusion ProcessesimfDynamic Quantile RegressionsimfDynamic Treatment Effect ModelsimfIndustrial productivityimfInflationimfMacroeconomicsimfMacroeconomics: ProductionimfMonetary baseimfMonetary economicsimfMonetary PolicyimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfMoney and Monetary PolicyimfMoney MultipliersimfMoney SupplyimfMoney supplyimfMoneyimfPrice indexesimfPrice LevelimfPricesimfProduction and Operations ManagementimfProductionimfProductivityimfState Space ModelsimfTime-Series ModelsimfHong Kong (China)Economic conditionsEconometric modelsHong Kong (China)Economic policyEconometric modelsHong Kong Special Administrative Region, People's Republic of ChinaimfDeflation (Finance)Econometric models.Business cycles.Asset pricesCentral Banks and Their PoliciesConsumer price indexesCreditDeflationDiffusion ProcessesDynamic Quantile RegressionsDynamic Treatment Effect ModelsIndustrial productivityInflationMacroeconomicsMacroeconomics: ProductionMonetary baseMonetary economicsMonetary PolicyMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralMoney and Monetary PolicyMoney MultipliersMoney SupplyMoney supplyMoneyPrice indexesPrice LevelPricesProduction and Operations ManagementProductionProductivityState Space ModelsTime-Series ModelsN'Diaye Papa1813639International Monetary Fund.Asia and Pacific Dept.DcWaIMFBOOK9910954666803321Determinants of Deflation in Hong Kong SAR4371737UNINA