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首页> 外文期刊>The Singapore economic review >ARE PRICES STICKY IN LARGE DEVELOPING ECONOMIES? AN EMPIRICAL COMPARISON OF CHINA AND INDIA
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ARE PRICES STICKY IN LARGE DEVELOPING ECONOMIES? AN EMPIRICAL COMPARISON OF CHINA AND INDIA

机译：大型经济体中的价格僵硬吗？中国和印度的经验比较

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摘要

By employing the factor augmented vector autoregression (FAVAR) model, this paper compares the role of macroeconomic and sector-specific factors in price movements for China and India, taking into account the features unique to developing economies. We find that fluctuations in the aggregated prices in China are more persistent than the underlying disaggregated prices. Compared to China, prices in India respond more promptly to macroeconomic and monetary policy shocks. We also show that the urban CPI in China responds more sharply than rural CPI when facing sector-specific shocks, while the opposite is valid for India.
机译：通过采用因子增强向量自回归（FAVAR）模型，本文比较了宏观经济因素和特定行业因素在中国和印度价格波动中的作用，同时考虑了发展中国家的独特特征。我们发现，中国总价格的波动要比潜在的总分类价格更持久。与中国相比，印度的价格对宏观经济和货币政策冲击的反应更加迅速。我们还表明，面对特定行业的冲击，中国城市CPI的反应比农村CPI更为敏锐，而印度则相反。

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  • 来源
    《The Singapore economic review》 |2019年第2期|341-363|共23页
  • 作者

    Chong Terence Tai Leung; Rafiq M. S.; Zhu Tingting Juni; Wu Zhang;

  • 作者单位

    Chinese Univ Hong Kong, Dept Econ, Sha Tin, Hong Kong, Peoples R China|Chinese Univ Hong Kong, Lau Chor Tak Inst Global Econ & Finance, Sha Tin, Hong Kong, Peoples R China|Nanjing Univ, Dept Int Econ & Trade, Nanjing, Jiangsu, Peoples R China;

    Int Monetary Fund, Asia & Pacific Dept, 700 19th St NW, Washington, DC 20431 USA;

    World Bank, Trade & Competitiveness Global Practice, 1818 H St NW, Washington, DC 20433 USA;

    Chinese Univ Hong Kong, Dept Econ, Sha Tin, Hong Kong, Peoples R China;

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  • 正文语种 eng
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  • 关键词

    Disaggregated prices; persistence; common factors;

    机译：分类价格;持续性;共同因素;

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