The Fiscal Theory of Price Level and Its Empirical Test for China

摘要：

In this paper we employ a simple framework to demonstrate the propositions of the fiscal theory of the price level. Using the VAR-based approach suggested by Canzoneri et al. (2001), we find evidence supporting the Ricardian regime in case of China. This is consistent with the fact that China has been maintaining a stable currency peg to the U.S. dollar, and it is known that a currency peg requires the fiscal discipline of a Ricardian regime.

关键词： Fiscal Theory of the Price Level Ricardian and non-Ricardian Policy Regimes Impulse

作者: Jiaqiang Zhuang Tingting Huang

作者单位: School of Management Huazhong University of Science and Technology, Wuhan, 430074, China School of Foreign Language, Zhongnan University of Econmics and Law, 430073, China

会议类型: 国际会议

会议名称: The Ninth Wuhan International Conference on E-Business(第九届武汉电子商务国际会议)

会议地点: 武汉

会议语种:英文

页码: 1285-1290

在线出版日期: 2010-05-29（万方平台首次上网日期，不代表论文的发表时间）