China’s Monetary Policy and the Loan Market: How Strong is the Credit Channel in China?

We study the macroeconomic relevance of credit supply effects in the transmission of Chinese monetary policy. Using combinations of zero and sign restrictions in a structural vector autoregressive framework, we simultaneously identify monetary policy shocks and supply dynamics in the loan market. Ou...

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Veröffentlicht in:	Open economies review 2023-07, Vol.34 (3), p.555-577
Hauptverfasser:	Breitenlechner, Max, Nuutilainen, Riikka
Format:	Artikel
Sprache:	eng
Schlagworte:	Banking Central banks Credit Development Economics Economic growth Economic Policy Economics Economics and Finance European Integration Interest rates International Economics Loans Macroeconomics Macroeconomics/Monetary Economics//Financial Economics Markets Monetary policy Prices Research Article Reserve requirements
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