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

Fu, Hailing, Fang, Yuantao, Qu, Yi and Pan, Yi (2021) A Sustainable Economic System to Face the Fluctuation of Fruit Prices: Based on a Small-Region DSGE Model. Discrete Dynamics in Nature and Society, 2021. p. 6693709. ISSN 1026-0226

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Official URL: https://doi.org/10.1155/2021/6693709

Abstract

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.

Item Type: Article
Additional Information: Funding information: This research was supported by the project funded by Humanities and Social Sciences Research Innovation Team of Hainan University, Hainan Free Trade Port Cross-Border E-Commerce Service Innovation Research Team (HDSKTD202025). This research was also funded by Hainan Provincial Natural Science Foundation of China (NSFC), under project number 717078, and the Education Department of Hainan Province, under project number hnky2021-2.
Subjects: L100 Economics
N100 Business studies
N500 Marketing
Department: Faculties > Business and Law > Newcastle Business School
Depositing User: Elena Carlaw
Date Deposited: 24 Jun 2021 11:13
Last Modified: 24 Jun 2021 11:15
URI: http://nrl.northumbria.ac.uk/id/eprint/46526

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