Welfare Cost of Economic Fluctuations during after High Speed Development Period
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| Title | Welfare Cost of Economic Fluctuations during after High Speed Development Period
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| Author | Zhang Keng |
| Organization | Shanghai International Studies University |
| Email | js@drc.gov.cn |
| Key Words | Economic Fluctuations; Welfare Cost; Transitional Economy |
| Abstract | The article estimates the welfare cost of Chinese economic fluctuations and analyses transnational intertemporal data during transitional period. 1. The welfare cost of Chinese economic fluctuations is larger than that of American economic fluctuations, which implies that Lucas judgement is not supported in China. 2. The difference in welfare cost between China and America has its general implication. Totally speaking, welfare cost of economic fluctuations in developing countries is important, meanwhile that in developed countries is not important. 3. When the first rapid growth period is ended, welfare cost of economic fluctuations will go down. However, Lucas judgement is not supported yet for the new period. These findings imply that fully understanding social environment of transitional economy is important for analyzing Chinese economic fluctuations. |
| Serial Number | WP924 |
| Time | 2015-09-22 |
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