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monetary neutrality exerts essential importance on the making of monetary policy targets, and its effect. This paper, by employing IRF and AIRF, tests the characteristic of monetary neutrality in china, plus fluctuation features as well. The testing results show: monetary stock, whatever defined...

Abstract: Ever since the separation of the loan capital from the commercial capital and the industrial capital, the virtual economy has been generated and expanded gradually along with the economic development. The virtual economy is a double-edged sword: on one hand, it promotes the development...

The English version of this paper can be found at "http://ssrn.com/abstract=3486211" http://ssrn.com/abstract=3486211.Chinese Abstract:...

English Abstract: The authors review the availability and allocation of commercial credit in China, the investment options presented to savers and the funding options available to Chinese banks. They highlight the markets intrinsic deficiencies, vast externalities and tremendous potentials for...

This paper investigates whether distributional effect arising from the impact of monetary policy on bank credits will be different when monetary policy is asymmetric. Methodologically, we use a set of high frequency panel data for Taiwan commercial banks and adopt Arellano and Bond's (1991)...