LEADER 04594oam 22010454 450 001 9910825684203321 005 20200520144314.0 010 $a1-4623-0340-4 010 $a1-4527-6730-0 010 $a1-283-51392-7 010 $a9786613826374 010 $a1-4519-0832-6 035 $a(CKB)3360000000443628 035 $a(EBL)3014339 035 $a(SSID)ssj0000940134 035 $a(PQKBManifestationID)11483773 035 $a(PQKBTitleCode)TC0000940134 035 $a(PQKBWorkID)10939144 035 $a(PQKB)11709610 035 $a(OCoLC)698585541 035 $a(IMF)WPIEE2006036 035 $a(MiAaPQ)EBC3014339 035 $a(IMF)WPIEA2006036 035 $a(EXLCZ)993360000000443628 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aDoes Inflation in China Affect the United States and Japan? /$fLuke Willard, Tarhan Feyzioglu 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (31 p.) 225 1 $aIMF Working Papers 300 $a"February 2006." 311 $a1-4518-6296-2 320 $aIncludes bibliographical references (p. [28]-29). 327 $a""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"" 330 3 $aWith China's share in global trade increasing rapidly, some argued in 2002-03 that China was exporting deflation to other countries as it was dumping cheap goods in mature markets. Later, others argued that China was sucking in commodities and thus causing sharp increases in global prices. The theoretical literature so far has provided mixed conclusions regarding the strength of international transmission of inflation. This paper uses a number of econometric techniques to assess the extent of the link between inflation rates between China and the United States and Japan. It finds only limited empirical evidence at the aggregate level for consumer price inflation in China leading to price changes in the United States and Japan. However, it finds some evidence that inflation in the United States has an impact on Chinese inflation, consistent with the literature that argues that inflation is propagated from the reserve currency economy to other economies. In either case, the impact is short lived. At a more disaggregate level, there appears to be stronger sector-specific linkages between prices in China and in the United States and Japan, both for food and at the household level for manufactured goods. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/036 606 $aInflation (Finance)$zChina 606 $aInflation (Finance)$zUnited States 606 $aExports$zChina 606 $aPrices$zChina 606 $aAgriculture: Aggregate Supply and Demand Analysis$2imf 606 $aConsumer prices$2imf 606 $aDeflation$2imf 606 $aExports and Imports$2imf 606 $aExports$2imf 606 $aFood prices$2imf 606 $aImport prices$2imf 606 $aImports$2imf 606 $aInflation$2imf 606 $aInternational economics$2imf 606 $aInternational trade$2imf 606 $aMacroeconomics$2imf 606 $aOpen Economy Macroeconomics$2imf 606 $aPrice Level$2imf 606 $aPrices$2imf 606 $aTrade: General$2imf 607 $aUnited States$2imf 615 0$aInflation (Finance) 615 0$aInflation (Finance) 615 0$aExports 615 0$aPrices 615 7$aAgriculture: Aggregate Supply and Demand Analysis 615 7$aConsumer prices 615 7$aDeflation 615 7$aExports and Imports 615 7$aExports 615 7$aFood prices 615 7$aImport prices 615 7$aImports 615 7$aInflation 615 7$aInternational economics 615 7$aInternational trade 615 7$aMacroeconomics 615 7$aOpen Economy Macroeconomics 615 7$aPrice Level 615 7$aPrices 615 7$aTrade: General 700 $aWillard$b Luke$01685891 701 $aFeyzioglu$b Tarhan$01168803 712 02$aInternational Monetary Fund.$bAsia and Pacific Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910825684203321 996 $aDoes Inflation in China Affect the United States and Japan$94058380 997 $aUNINA