NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Ya-Hwei Yang

Chung-Hua Institution for Economic Research
75 Chang-Hsing Street
Taipei 106, Taiwan
ROC
Tel: 02-273-56006
Fax: 02-273-90615

E-Mail: yyh@mail.cier.edu.tw

NBER Working Papers and Publications

September 2006Deflation and Monetary Policy in Taiwan
with Jia-dong Shea
in Monetary Policy with Very Low Inflation in the Pacific Rim, NBER-EASE, Volume 15, Takatoshi Ito and Andrew K. Rose, editors
April 2005Deflation and Monetary Policy in Taiwan
with Jia-Dong Shea: w11244
From 1999 to 2003, Taiwan faced a deflationary situation. The reasons for this deflation can be attributed to both domestic and global factors. Domestic changes including local political unrest, tensions with China, outbound investment to China, a weakened financial system, and a deteriorating government financial situation, provided the backdrop for the economic slowdown and corresponding deflation. A number of global factors, especially the bursting of the Internet and IT bubbles in late 2000 and the rise of China's economy, also heavily influenced both global and Taiwanese prices. This paper adopts a simplified aggregate demand and aggregate supply model to derive a deterministic equation of the GDP deflator (PGDP), and then applies quarterly data covering the period from 1982 to 2003 t...

Published:

January 1996Money and Prices in Taiwan in the 1980s
with Jia-Dong Shea
in Financial Deregulation and Integration in East Asia, NBER-EASE Volume 5, Takatoshi Ito and Anne O. Krueger, editors
January 1993Government Policy and Strategic Industries: The Case of Taiwan
in Trade and Protectionism, NBER-EASE Volume 2, Takatoshi Ito and Anne O. Krueger, editors
 
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