Environmental Science
8 years ago

China's Fixed Exchange Rate Regime Hinders Monetary Policy Effectiveness

Journal of Xiangtan University
Empirical Study of the Effectiveness of Exchange Rate Transmission of Monetary Policy in China
Chu Er-ming

Paper Summary

The study looked at how monetary policy affects exchange rates in China from 2000 to 2004. They found that in a fixed exchange rate system with the US dollar, the effectiveness of monetary policy on exchange rates and industrial output is reduced.

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