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The Diminishing Influences of Agricultural Output Changes on General Price Changes in China

Author

Listed:
  • Xian Xin
  • Xiuqing Wang

    (China Agricultural University)

  • Xiaoyun Liu

    (China Agricultural University)

  • Xuefeng Mao

Abstract

It has been argued that the influences of agriculture on the macro economy will be weakening along with economic development. We in this paper assess the impact of agricultural output changes on the general price level over time with China as an example. Our results suggest that China witnessed a declining influence of agricultural output changes on general price changes. The contribution of given agricultural output change on the general price change in 2005 was merely less than 60% of that in 1987, which in turn implies that macro policies targeting to curb general inflation via boosting agricultural output will be less effective as those of twenty years ago. We generate these results with the general equilibrium model calibrated to aggregated China¡¯s input-output tables of 1987, 1997, and 2005.

Suggested Citation

  • Xian Xin & Xiuqing Wang & Xiaoyun Liu & Xuefeng Mao, 2009. "The Diminishing Influences of Agricultural Output Changes on General Price Changes in China," Working Papers 0902, China Agricultural University, College of Economics and Management.
    • Handle: RePEc:cau:wpaper:0902
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    File URL: http://www.cau.edu.cn/cem/news/newsfj/2009E002.pdf
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    Cited by:

    1. is not listed on IDEAS
    2. Wenlang Zhang & Gaofeng Han & Steven Chan, 2014. "How Strong are the Linkages between Real Estate and Other Sectors in China?," Working Papers 112014, Hong Kong Institute for Monetary Research.
    3. Chan, Steven & Han, Gaofeng & Zhang, Wenlang, 2016. "How strong are the linkages between real estate and other sectors in China?," Research in International Business and Finance, Elsevier, vol. 36(C), pages 52-72.

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    Keywords

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    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • Q10 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - General

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