Fiscal Policy, Monetary Policy and Cointegration Analysis

Author: Wang Xuebiao Wang Zhiqiang
Publisher:
Publish Date: 2001-06-01
Features: This book is one of the final outcomes of the national social science planning fund project "Empirical Research on China's Fiscal and Financial Mechanisms and the Coordination Mechanism of Fiscal and Financial Policies," led by Professor Dong Wenquan, a doctoral supervisor. The book is divided into two parts: the Upper Part and the Lower Part. The Upper Part is the theoretical and methodological foundation, where we will systematically introduce the cointegration theory methods in time series analysis to reveal long-term equilibrium relationships among economic variables, as well as theories, methods, and applications related to dynamic modeling of time series, error correction, and inference from non-stationary data. The Lower Part is the application of the aforementioned econometric theoretical methods, where we will primarily use cointegration theory and error correction models, combined with the actual conditions of China, to conduct empirical research on the mechanisms of fiscal policy and financial policy and their coordination mechanisms.