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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...

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Current and future inflation in China are both dominated by inflation expectation and inertia, but dramatic instability of inflation expectation put directly negative impact on effects from inflation management policies. This paper, by applying ARMA and GARCH models, studies dynamics of shocks...

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...