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150128 ||| eng |
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|a 9781451875911
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100 |
1 |
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|a N'Diaye, Papa
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245 |
0 |
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|a Determinants of Deflation in Hong Kong SAR
|c Papa N'Diaye
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2003
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300 |
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|a 28 pages
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651 |
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4 |
|a Hong Kong Special Administrative Region, People's Republic of China
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653 |
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|a Price indexes
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653 |
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|a Inflation
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653 |
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|a Credit
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653 |
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|a Dynamic Treatment Effect Models
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653 |
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|a Productivity
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653 |
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|a Monetary economics
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653 |
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|a Deflation
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653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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653 |
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|a Industrial productivity
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653 |
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|a Production
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653 |
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|a Consumer price indexes
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653 |
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|a Diffusion Processes
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653 |
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|a Money
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653 |
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|a Time-Series Models
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653 |
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|a Money supply
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653 |
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|a Asset prices
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653 |
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|a Macroeconomics: Production
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653 |
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|a Price Level
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653 |
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|a Monetary base
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653 |
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|a Money Supply
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653 |
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|a Prices
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653 |
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|a Macroeconomics
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653 |
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|a Central Banks and Their Policies
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653 |
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|a Dynamic Quantile Regressions
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653 |
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|a Monetary Policy
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653 |
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|a Money Multipliers
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653 |
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|a State Space Models
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653 |
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|a Money and Monetary Policy
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653 |
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|a Production and Operations Management
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041 |
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7 |
|a eng
|2 ISO 639-2
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989 |
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|b IMF
|a International Monetary Fund
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490 |
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|a IMF Working Papers
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028 |
5 |
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|a 10.5089/9781451875911.001
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856 |
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|u https://elibrary.imf.org/view/journals/001/2003/250/001.2003.issue-250-en.xml?cid=17060-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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520 |
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|a This paper presents a comprehensive econometric analysis of the determinants of deflation in Hong Kong SAR. The analysis helps to determine the relative contributions of factors such as increased productivity, scarce money supply, and excess capacity in determining deflation. The main conclusion is that the effects of permanent shocks, such as productivity shocks and shocks related to changes in the money supply and price convergence with trading partners, have become more important in explaining deflation. In addition, the effects of temporary shifts in aggregate demand have been perpetuated by negative wealth and balance-sheet effects in the corporate and household sectors arising from asset-price declines over the past five years
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