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Inflation, Influence Factors and Information Channel
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TitleInflation, Influence Factors and Information Channel  
AuthorMeng Qingbin, Wu Lei and Jin Xiaoting  
OrganizationRenmin University of China;Nankai University,, 
Key WordsInflation; Influence Factor; Information Length; Information Channel 
AbstractIt is always a complicated problem to model the transmission mechanism from macro-variable changes to inflation fluctuation. We give an analyzing framework in an alternative way which is using “information channel” covers the inflation transmission process. The length of the information channel is used to differentiate the path for different variable. And then we build the system that can simulate how inflation is affected through information channel. We first set up inflation affecting model by introducing equation of heat conduction in physics. Then the long-run effects and short-run effects of output, money and international commodity price are studies empirically by permanence- transitory decomposition. Moreover, we investigate the information block character for each variable and also provide explanations. 
Serial NumberWP239 
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