null

已发表论文被与采纳建言

论文标题    The effective of China's monetary policy: Quantity versus price rules
作者    Li Xiangfa, Wang Hua(通讯作者)
发表/完成日期    2019-10-23
期刊名称    The North American Journal of Economics and Finance (SSCI)
期卷   
相关文章   
论文简介    This paper deduces an open economic DSGE model and explores two monetary policy rules for China, the quantity and price rule. The empirical results indicate that (1) monetary policy with money supply as instrument seems increasingly difficult to conduct in China than before, (2) the linkage between money supply and output becomes weaker over time, and (3) the effects of a price rule on the economy seem to have become more significant than those of a quantity rule. The findings seem to favor the government’s intention of liberalizing interest rates and making a more active use of the price instrument as the economy becomes more market-oriented in recent years.
返回