Chung-Hua Institution for Economic Research
75 Chang-Hsing Street
Taipei 106, Taiwan
NBER Working Papers and Publications
|September 2006||Deflation 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 2005||Deflation 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: Ito, Takoshi and Andrew K. Rose, eds. Monetary Policy with Very Low Inflation in the Pacific Rim (National Bureau of Economic Research-East Asia Seminar on Economics). Chicago, IL: University of Chicago Press, 2006.
|January 1996||Money 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 1993||Government Policy and Strategic Industries: The Case of Taiwan|
in Trade and Protectionism, NBER-EASE Volume 2, Takatoshi Ito and Anne O. Krueger, editors