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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 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 ...