Purpose – This paper aims to study the monetary transmission mechanism of China from January 1996 to December 2009 under endogenous structural breaks. Design/methodology/approach – The study constructs a benchmark VAR model and then adds the proxy variables for four channels of monetary...

Purpose–This paper aims to study the monetary transmission mechanism of China from January 1996 to December 2009 under endogenous structural breaks. Design/methodology/approach–The study constructs a benchmark VAR model and then adds the proxy variables for four channels of monetary policy...