A model of inflation in Taiwan

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.

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Year of publication:	2012
Authors:	Chow, Gregory C.
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 117.2012, 2, p. 464-466
Publisher:	Elsevier
Subject:	Inflation \| Taiwan \| Error correction

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Type of publication:	Article
Classification:	E31 - Price Level; Inflation; Deflation
Source:	RePEc - Research Papers in Economics

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