The Taylor rules and macroeconomic fluctuation in China: 1994–2006

Li, Qiong; Wang, Zhiwei

doi:10.1007/s11459-010-0012-5

Front. Econ. China

2010

DOI: 10.1007/s11459-010-0012-5

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The Taylor rules and macroeconomic fluctuation in China: 1994–2006

Qiong Li¹,

Zhiwei Wang²

Abstract: Taylor rule, historical analysis, GMM test, co-integration analysis, F41, G28, G32,

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2016

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Examining monetary policy reaction in the People’s Republic of China – a Markov switching policy index approach

Egan

Leddin

2016

Journal of Chinese Economic and Business Studies

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This paper estimates a monetary policy rule for the People's Republic of China (PRC) using a standard OLS estimation and a Markov switching model. As the People's Bank of China (PBOC) generally uses a battery of instruments in the conduct of its monetary policy, these models are estimated using a constructed monetary policy index (MPI) in place of the traditional interest rate.This allows for a better understanding of the role the PBOC has played in the PRC's unprecedented economic growth and its relatively low inflation over the last twenty years. This paper will not only examine the unique characteristics of Chinese monetary policy but may also give a more general insight into the dynamics of monetary policy reactions in other emerging markets and economies in transition.

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Examining monetary policy reaction in the People’s Republic of China – a Markov switching policy index approach

Egan

Leddin

2016

Journal of Chinese Economic and Business Studies

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show abstract

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The Taylor rules and macroeconomic fluctuation in China: 1994–2006

Abstract: Taylor rule, historical analysis, GMM test, co-integration analysis, F41, G28, G32,

Cited by 1 publication

References 12 publications

Examining monetary policy reaction in the People’s Republic of China – a Markov switching policy index approach

Examining monetary policy reaction in the People’s Republic of China – a Markov switching policy index approach

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