The Empirical Research On The CPI-fluctuations Between G20 Countries And China

The position and role of China in the international price chain,with the rising status in the world economic stage and the ever-increasing scale of foreign trade,has attracted increasing attention.In addition,foreign scholars and officials blame China for the destabilizing changes in global consumer prices.Therefore,based on the background of global economic integration,it is of practical significance to conduct empirical research on the fluctuation of consumer price index between China and other countries.This not only helps us to objectively evaluate the status of China in the global price system and function,but also for the policy to better cope with external impact and realize the long-term stability of the price.In this paper,the G20 as the research object,combined with the theoretical analysis and empirical analysis,the price volatility between China and other countries of the G20's international conduction relations were studied.Before the empirical analysis,the historical data of consumer price index are processed through seasonal adjustment,logarithmic processing and first-order difference.The empirical part mainly includes the Vector Autoregressive model(VAR),Granger causality test and Impulse Response Function.The results show that China is not the cause of price fluctuations in other countries of the G20,but the price fluctuations of four countries in the G20 have a significant impact on China.The four countries include the United States,Russia,South Africa and Australia.Finally,based on the research results,this paper puts forward some policy Suggestions to deal with the "input price fluctuation".