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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 ...
The effect of the China Connect
(03.02.2020)
BOFIT Discussion Papers 1/2020
BOFIT Discussion Papers 1/2020
We document the effect on Chinese firms of the Shanghai (Shenzhen)-Hong Kong Stock Connect. The Connect was an important capital account liberalization introduced in the mid-2010s. It created a channel for cross-border ...
China’s macroeconomic policies and spillover effects
(26.09.2023)
BOFIT Discussion Papers 5/2023
BOFIT Discussion Papers 5/2023
This paper provides a brief overview of China’s capital controls, external asset holdings and the real interest rate, and analyzes the quantitative effects of China’s macroeconomic policies between 2000 and 2015, including ...