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Estimating the impact of monetary policy on inequality in China
(13.05.2015)
BOFIT Discussion Papers 17/2015
BOFIT Discussion Papers 17/2015
The paper estimates the impact of monetary policy on income inequality in China. The empirical modelling finds that a battery of monetary indicators, including a monetary overhang measure derived from a money demand ...
Macroeconomic consequences of the real-financial nexus: Imbalances and spillovers between China and the U.S.
(18.01.2015)
BOFIT Discussion Papers 2/2015
BOFIT Discussion Papers 2/2015
Relying on quarterly data since 1998 we estimate, for China and the U.S., small scale econometric models that economize on the number of variables employed and yet are rich enough to provide useful insights about spillover ...
Contemporary monetary policy in China: A move towards price-based policy?
(12.03.2015)
BOFIT Discussion Papers 10/2015
BOFIT Discussion Papers 10/2015
This paper focuses on monetary policy in China. A set of different specifications for the monetary policy reaction function are empirically evaluated using monthly data for 1999––2012. Variation is allowed both in the ...
Reserve requirements and the bank lending channel in China
(21.09.2015)
BOFIT Discussion Papers 26/2015
BOFIT Discussion Papers 26/2015
This paper examines how reserve requirements influence the transmission of monetary policy through the bank lending channel in China while also taking into account the role of bank ownership. The implementation of Chinese ...
Monetary policy transmission in China: A DSGE model with parallel shadow banking and interest rate control
(09.03.2015)
BOFIT Discussion Papers 9/2015
BOFIT Discussion Papers 9/2015
The paper sheds light on the interplay between monetary policy, the commercial banking sector and the shadow banking sector in mainland China by means of a nonlinear stochastic general equilibrium (DSGE) model with ...