LEADER 05138oam 22013214 450 001 9910814899503321 005 20240410162304.0 010 $a1-4623-2341-3 010 $a1-4527-0966-1 010 $a1-283-56982-5 010 $a1-4519-2051-2 010 $a9786613882271 035 $a(CKB)3360000000445695 035 $a(EBL)3012555 035 $a(SSID)ssj0001474902 035 $a(PQKBManifestationID)11964638 035 $a(PQKBTitleCode)TC0001474902 035 $a(PQKBWorkID)11472513 035 $a(PQKB)10189227 035 $a(OCoLC)535146966 035 $a(MiAaPQ)EBC3012555 035 $a(IMF)WPIEE2502003 035 $a(EXLCZ)993360000000445695 100 $a20020129d2003 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aDeterminants of Deflation in Hong Kong SAR /$fPapa N'Diaye 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2003. 215 $a1 online resource (28 p.) 225 1 $aIMF Working Papers 300 $aCover title. 300 $a"December 2003"--Caption. 311 $a1-4518-7591-6 320 $aIncludes bibliographical references (p. 27). 327 $a""Contents""; ""I. OVERVIEW""; ""II. THE FRAMEWORK""; ""III. RESULTS""; ""IV. INTERPRETING THE RESULTS""; ""V. CONCLUSION""; ""APPENDIX""; ""References"" 330 3 $aThis paper presents a comprehensive econometric analysis of the determinants of deflation in Hong Kong SAR. The analysis helps to determine the relative contributions of factors such as increased productivity, scarce money supply, and excess capacity in determining deflation. The main conclusion is that the effects of permanent shocks, such as productivity shocks and shocks related to changes in the money supply and price convergence with trading partners, have become more important in explaining deflation. In addition, the effects of temporary shifts in aggregate demand have been perpetuated by negative wealth and balance-sheet effects in the corporate and household sectors arising from asset-price declines over the past five years. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2003/250 606 $aDeflation (Finance)$zChina$zHong Kong$xEconometric models 606 $aBusiness cycles 606 $aMacroeconomics$2imf 606 $aMoney and Monetary Policy$2imf 606 $aProduction and Operations Management$2imf 606 $aTime-Series Models$2imf 606 $aDynamic Quantile Regressions$2imf 606 $aDynamic Treatment Effect Models$2imf 606 $aDiffusion Processes$2imf 606 $aState Space Models$2imf 606 $aMoney Supply$2imf 606 $aCredit$2imf 606 $aMoney Multipliers$2imf 606 $aMonetary Policy$2imf 606 $aCentral Banks and Their Policies$2imf 606 $aPrice Level$2imf 606 $aInflation$2imf 606 $aDeflation$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aMacroeconomics: Production$2imf 606 $aMonetary economics$2imf 606 $aMonetary base$2imf 606 $aProductivity$2imf 606 $aConsumer price indexes$2imf 606 $aAsset prices$2imf 606 $aMoney$2imf 606 $aPrices$2imf 606 $aProduction$2imf 606 $aMoney supply$2imf 606 $aIndustrial productivity$2imf 606 $aPrice indexes$2imf 607 $aHong Kong (China)$xEconomic conditions$xEconometric models 607 $aHong Kong (China)$xEconomic policy$xEconometric models 607 $aHong Kong Special Administrative Region, People's Republic of China$2imf 615 0$aDeflation (Finance)$xEconometric models. 615 0$aBusiness cycles. 615 7$aMacroeconomics 615 7$aMoney and Monetary Policy 615 7$aProduction and Operations Management 615 7$aTime-Series Models 615 7$aDynamic Quantile Regressions 615 7$aDynamic Treatment Effect Models 615 7$aDiffusion Processes 615 7$aState Space Models 615 7$aMoney Supply 615 7$aCredit 615 7$aMoney Multipliers 615 7$aMonetary Policy 615 7$aCentral Banks and Their Policies 615 7$aPrice Level 615 7$aInflation 615 7$aDeflation 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aMacroeconomics: Production 615 7$aMonetary economics 615 7$aMonetary base 615 7$aProductivity 615 7$aConsumer price indexes 615 7$aAsset prices 615 7$aMoney 615 7$aPrices 615 7$aProduction 615 7$aMoney supply 615 7$aIndustrial productivity 615 7$aPrice indexes 700 $aN'Diaye$b Papa$01624126 712 02$aInternational Monetary Fund.$bAsia and Pacific Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910814899503321 996 $aDeterminants of Deflation in Hong Kong SAR$93958941 997 $aUNINA