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From window guidance to interbank rates : Tracing the transition of monetary policy in Japan and China
(21.02.2018)
BOFIT Discussion Papers 4/2018
BOFIT Discussion Papers 4/2018
Monetary policy in most major economies has traditionally focused on control of
the interbank interest rate to achieve an inflation target. Monetary policy in transition economies, in contrast, relied on a mixed system ...
Is Chinese monetary policy forward-looking?
(22.02.2018)
BOFIT Discussion Papers 6/2018
BOFIT Discussion Papers 6/2018
This paper investigates the empirical validity of the claim that China employed a forward-looking monetary policy rule from 2001 to 2016. Survey expectations are used in conjunction with competing money supply and interest ...