Inflation in China: Microfoundations, Macroeconomic Dynamics and Monetary Policy

1st Edition

Chengsi Zhang

Routledge
August 7, 2020 Forthcoming
Reference - 360 Pages - 60 B/W Illustrations
ISBN 9780367898823 - CAT# K462841
Series: China Perspectives

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Summary

Inflation plays a central role in macroeconomic and financial policy regulation, and its dynamic formation has gradually become a popular research topic in this field. This book comprehensively studies the dynamic mechanism of inflation in China from the perspective of New Keynesian Economics.

By combining the dynamic trajectory of price changes since China's reform and opening up under Deng Xiaoping as well as the underlying economic operating characteristics, the book deploys a multifaceted approach to understand the mechanism of inflation dynamics. The author explores the microfoundations of inflation dynamics, and underlines their importance in the context of modern monetary policy. In particular, he builds upon the traditional New Keynesian Phillips curve to include factors of globalization and financialization within the inflation formation regime of modern China.

As the book explores the dynamic mechanism of China's inflation from different perspectives including inflation cycle theory, price index internal conduction, price index chain transmission, capital rotation and industry inflation mechanisms, international readers will gain a full understanding China's inflation, monetary policy and economy.

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