Economics, Econometrics and Finance
8 years ago

China's Monetary Policy Shift: Money Reigns Supreme Over Interest Rates

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China Economic Review
On the choice of monetary policy rules for China: A Bayesian DSGE approach
Bing Li, Qing Liu

Paper Summary

The study aimed to find the best monetary policy rule for China using a DSGE model. They analyzed different rules and found that the expanded Taylor rule fits the data best. The results show that targeting money is more important than interest rates in China's monetary policy.

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