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Search within results (((Li Rui[Author]) AND 1[Journal]) AND year[Order]) AND OR NOT Title Author Institution Keyword Abstract PACS DOI Please wait a minute... For Selected: Download Citations EndNote Ris BibTeX Toggle Thumbnails Select The Impact of SinoUS Trade Friction on Chinese Agriculture: Opportunities and Challenges Zheng Shi, Li Rui, Wang Zhigang Teaching and Research    Select Inflation and Responsibility of the Central Bank LI Yong-ning, LI Rui-hong Teaching and Research    2008, (10): 54-61.   Abstract （1108）      PDF（pc） （1433KB）（1772）       Knowledge map    Save It is generally acknowledged that the central bank of a country should assume the responsibility of maintaining price stability of the country.But it is beyond the central bank to deal with short-term inflation caused by external shocks.When this happens,the central bank should concentrate on the core CPI index other than the prices of energy and food within a short period of time.So long as there is no comprehensive supply shock and the market mechanism is perfect,inflation is a monetary phenomenon,and the central bank should attend to the general CPI.Sustained inflation is caused by inflation expectations when the central bank is viewed as being unable to deal with inflation with wrong monetary policy-making.It is beyond the central bank to deal with the cost-pushed inflation against a background of overall supply shocks and imperfect market mechanism.The central bank then has to seek collaboration with the government.But this will challenge the theory of central bank independence. Reference | Related Articles | Metrics | Comments（0）