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A model of inflation in Taiwan

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  • Chow, Gregory C.

Abstract

The model of Chow (1987) for inflation in China is applied to Taiwan. A cointegration relation linear in log price and log ratio of money supply to output is estimated. The change in this log ratio, lagged inflation and the lagged residual of the cointegration relation explain Taiwan’s inflation well except during the oil crises of 1973 and 1979–1980.

Suggested Citation

  • Chow, Gregory C., 2012. "A model of inflation in Taiwan," Economics Letters, Elsevier, vol. 117(2), pages 464-466.
    • Handle: RePEc:eee:ecolet:v:117:y:2012:i:2:p:464-466
    DOI: 10.1016/j.econlet.2012.06.038
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    References listed on IDEAS

    as
    1. Chow, Gregory C., 1987. "Money and price level determination in China," Journal of Comparative Economics, Elsevier, vol. 11(3), pages 319-333, September.
    2. Chow, Gregory C. & Wang, Peng, 2010. "The empirics of inflation in China," Economics Letters, Elsevier, vol. 109(1), pages 28-30, October.
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    More about this item

    Keywords

    Inflation; Taiwan; Error correction;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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