A Sustainable Economic System to Face the Fluctuation of Fruit Prices: Based on a Small-Region DSGE Model | Zendy

Hailing Fu | Zendy; Yuantao Fang | Zendy; Yi Qu | Zendy; Yi Pan | Zendy

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A Sustainable Economic System to Face the Fluctuation of Fruit Prices: Based on a Small-Region DSGE Model

Author(s) -

Hailing Fu,

Yuantao Fang,

Yi Qu,

Yi Pan

Publication year - 2021

Publication title -

discrete dynamics in nature and society

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.264

H-Index - 39

eISSN - 1607-887X

pISSN - 1026-0226

DOI - 10.1155/2021/6693709

Subject(s) - dynamic stochastic general equilibrium , economics , inflation (cosmology) , preference , investment (military) , sustainable development , estimation , econometrics , scale (ratio) , monetary economics , monetary policy , microeconomics , physics , management , quantum mechanics , politics , theoretical physics , political science , law

This paper builds a new small-scale and regionalization DSGE model that focuses on the sustainable economic system, which was estimated by the Bayesian estimation method using Chinese annual data from 2004 to 2017 to analyze the effect of the fluctuation of fruit prices in Hainan. We find the fluctuation of increasing prices has a negative effect on fruit output. This results in a preference to loosen monetary policy to reduce this influence and then results in price inflation, which will lead to the increase in output and prices simultaneously. Based on our findings, we provide suggestions for policy maker such as the optimization of industrial structures and increased investment in the fruit industry, extending the fruit industry chain and establishing a multifruit industry sustainable economic system.

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