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
Authors:	Koivu, Tuuli
Publisher:	Helsinki : Bank of Finland, Institute for Economies in Transition (BOFIT)
Subject:	China \| monetary policy \| asset prices

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Series:	BOFIT Discussion Papers ; 18/2010
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
ISBN:	978-952-462-693-4
Other identifiers:	640046215 [GVK] hdl:10419/212686 [Handle] RePEc:zbw:bofitp:bdp2010_018 [RePEc]
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; P24 - National Income, Product, and Expenditure; Money; Inflation
Source:	EconStor

Persistent link: https://www.econbiz.de/10012148617