Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/153674 
Authors: 
Year of Publication: 
2010
Series/Report no.: 
ECB Working Paper No. 1240
Publisher: 
European Central Bank (ECB), Frankfurt a. M.
Abstract: 
This paper studies the wealth channel in China. Using the structural vector autoregression method, we find that a loosening of China’s monetary policy indeed leads to higher asset prices, which in turn are linked to household consumption. However, the importance of the wealth channel as a part of the monetary policy transmission mechanism in China is still limited.
Subjects: 
asset prices
China
monetary policy
JEL: 
E52
P24
Document Type: 
Working Paper

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