Economics, Econometrics and Finance
4 years ago

China's Monetary Policy Distortions Hinder Interest Rate Channel Functionality.

Monetary Policy in China (1994-2004): Targets, Instruments and their Effectiveness
Michael Geiger

Paper Summary

China's monetary policy uses different tools like the central bank's instruments and non-monetary tools. These tools create problems that stop interest rates from working properly. The direct tools and non-monetary tools have a big impact, which questions the usual way of doing monetary policy.

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