Monetary policy, asset prices and consumption in China

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.

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Year of publication:	2010-11-05
Authors:	Koivu, Tuuli
Institutions:	Siirtymätalouksien tutkimuslaitos, Suomen Pankki
Subject:	China \| monetary policy \| asset prices

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Extent:	application/pdf
Series:	BOFIT Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	The text is part of a series BOFIT Discussion Papers Number 18/2010 33 pages
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; P24 - National Income, Product, and Expenditure; Money; Inflation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008694565