360 pages | 60 B/W Illus.
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.
1. Introduction 2. Dynamic Evolution of Inflation in China 3. Inflation Dynamics Internal Transmission Perspective 4. Inflation Dynamics Upstream and Downstream 5. Inflation Dynamics Industry Tide Perspective 6. Inflation Dynamics Goods Financialization Perspective 7. Inflation Dynamics Equilibrium of Goods and Asset Markets Perspective 8. Inflation Dynamics A Compromise Perspective between Monetarism and New Keynesianism 9. Target Mismatch and Dynamic Mechanism of Inflation 10. Inflation Expectations and Its Dynamic Mechanism 11. External Shocks, Monetary Policy, and the Structural Change of Inflation Dynamics 12. Excess Liquidity and Inflation Dynamics under Open Environment 13. Exchange Rate Parity Relation Change and Inflation Dynamic Mechanism 14. Globalization and Inflation Dynamics 15. Disparities and Consistencies
The China Perspectives series focuses on translating and publishing works by leading Chinese scholars, writing about both global topics and China-related themes. It covers Humanities & Social Sciences, Education, Media and Psychology, as well as many interdisciplinary themes.
This is the first time that any of these books have been translated into English for international readers. The series aims to put forward a Chinese perspective, give insights into cutting-edge academic thinking in China, and inspire researchers globally.