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Does People’s Bank of China communication matter? Evidence from stock market reaction
(25.04.2019)
BOFIT Discussion Papers 9/2019
BOFIT Discussion Papers 9/2019
This paper tests whether the People's Bank of China's communication affects expectations of market participants and matters as a monetary policy instrument. For that purpose, we first rely on a computational linguistic ...
Effects of monetary and macro-prudential policies – evidence from inflation targeting economies in the Asia-Pacific region and potential implications for China
(02.03.2017)
BOFIT Discussion Papers 4/2017
BOFIT Discussion Papers 4/2017
We examine the effects of monetary and macroprudential policies in the Asia-Pacific region, where many inflation targeting economies have adopted macroprudential policies in order to safeguard financial stability. Using ...
Monetary policy transmission with two exchange rates and a single currency : The Chinese experience
(21.10.2017)
BOFIT Discussion Papers 14/2017
BOFIT Discussion Papers 14/2017
In emerging market economies, transmission of monetary policy through the foreign exchange market is complicated by the coexistence of financial restrictions and arbitrages. Using China as an example, we show that the ...