Pang, Ke; Siklos, Pierre L. - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2015
Relying on quarterly data since 1998 we estimate, for China and the U.S., small scale econometric models that economize … them. We conclude that inflation in China responds to credit shocks. Indeed, the monetary transmission mechanism in China … 2008-9. Finally, spillovers from the US to China are significant and originate from both through the real and financial …