Determinants of Deflation in Hong Kong SAR:
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...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2003
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Schriftenreihe: | IMF Working Papers
Working Paper No. 03/250 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | 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 |
Beschreibung: | 1 Online-Ressource (28 p) |
ISBN: | 1451875916 9781451875911 |
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spelling | N'Diaye, Papa M'B. P. Verfasser aut Determinants of Deflation in Hong Kong SAR N'Diaye, Papa M'B. P Washington, D.C International Monetary Fund 2003 1 Online-Ressource (28 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 03/250 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 Online-Ausg http://elibrary.imf.org/view/IMF001/01683-9781451875911/01683-9781451875911/01683-9781451875911.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | N'Diaye, Papa M'B. P. Determinants of Deflation in Hong Kong SAR |
title | Determinants of Deflation in Hong Kong SAR |
title_auth | Determinants of Deflation in Hong Kong SAR |
title_exact_search | Determinants of Deflation in Hong Kong SAR |
title_exact_search_txtP | Determinants of Deflation in Hong Kong SAR |
title_full | Determinants of Deflation in Hong Kong SAR N'Diaye, Papa M'B. P |
title_fullStr | Determinants of Deflation in Hong Kong SAR N'Diaye, Papa M'B. P |
title_full_unstemmed | Determinants of Deflation in Hong Kong SAR N'Diaye, Papa M'B. P |
title_short | Determinants of Deflation in Hong Kong SAR |
title_sort | determinants of deflation in hong kong sar |
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