Global slack and open economy Phillips curves - A province-level view from China

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• 作者：Changsheng Chen^a ; Eric Girardin^b ; Aaron Mehrotra^c ; ^{aaron.mehrotra@bis.org}
• 关键词：E31 ; F41 ; F62
• 刊名：China Economic Review
• 出版年：2017
• 出版时间：February 2017
• 年：2017
• 卷：42
• 期：Complete
• 页码：74-87
• 全文大小：793 K
• 卷排序：42

文摘

We use subnational data from China to test the “global slack hypothesis.” Inflation is more responsive to economy-wide than province-level measures of slack. The results support the “global slack hypothesis.” The results emphasise the importance of cross-border factors for inflation dynamics.