Title Deflation in Hong Kong SAR / Philip Schellekens

Published [Washington, D.C.] : International Monetary Fund, ©2003

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Description 1 online resource (25 pages) : illustrations Series IMF working paper, 2227-8885 ; WP/03/77 IMF working paper ; WP/03/77. Summary This paper examines the causes of deflation in Hong Kong SAR, exploring whether it reflects a prolonged process of adjustment to cyclical shocks or whether it results from price equalization pressures arising from structural integration with mainland China. To gauge the relative importance of these factors, the paper provides both an econometric and a qualitative analysis of the price dynamics between Hong Kong SAR and Shenzhen, a neighboring city in mainland China. It finds that the role of price equalization as a source of deflation is minor. Deflation in Hong Kong SAR is best explained by successive cyclical shocks which have been amplified by balance-sheet and wealth effects Bibliography Includes bibliographical references (pages 23-25) Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL English digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL Print version record Subject Deflation (Finance) -- China -- Hong Kong -- Econometric models Prices -- China -- Hong Kong -- Econometric models Business cycles -- China -- Hong Kong -- Econometric models Business cycles -- Econometric models Deflation (Finance) -- Econometric models Prices -- Econometric models China -- Hong Kong Form Electronic book Author International Monetary Fund. Monetary and Exchange Affairs Department. ISBN 1451896255 9781451896251 1281602590 9781281602596 1462318703 9781462318704 1452757321 9781452757322 9786613783288 6613783285

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