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Is China¡¯s inflation pushed by wages? An empirical research based on excess wages

Author

Listed:
  • FAN Zhiyong

    (School of Economics, Renmin University of China, Beijing 100872, China)

Abstract

Whether China’s inflation since 2007 is demand-pull or cost-push has become the study focus. Different opinions about the originations of the inflation indicate different policies against further inflation. VAR research based on the import price, money supply, excess wage and inflation rate finds that money supply instead of excess wage has made the most contribution for current inflation since 2000. Further evidence from sectoral data also confirms the conclusion of the VAR research. So there was no “wage-inflation” vicious circle in China during 2000–2007.

Suggested Citation

  • FAN Zhiyong, 2009. "Is China¡¯s inflation pushed by wages? An empirical research based on excess wages," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 4(4), pages 572-587, December.
    • Handle: RePEc:fec:journl:v:4:y:2009:i:4:p:572-587
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    File URL: http://journal.hep.com.cn/fec/EN/10.1007/s11459-009-0030-3
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    More about this item

    Keywords

    inflation; demand pull; cost push; excess wage;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers

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