Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/31454
Authors: 
Burdekin, Richard C. K.
Siklos, Pierre L.
Year of Publication: 
2005
Series/Report no.: 
Working paper series // Claremont Institute for Economic Policy Studies 2005-02
Abstract: 
Post-1990 Chinese monetary policy is modeled with a McCallum-type rule that takes into account the People's Bank of China's emphasis on targeting the rate of money supply growth. People's Bank policy appears responsive to the gap between target and actual nominal GDP as well as to external pressures. Additional cointegration analysis yields estimates of the gap between estimated money demand and actual money supply that appear to track the inflationary trends evident over our sample period. Chinese inflation and monetary policy outcomes seem reasonably captured using a standard monetary approach, therefore, without the need to appeal to China-specific structural factors.
Document Type: 
Working Paper

Files in This Item:
File
Size
226.82 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.