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- W1835536425 abstract "This paper, using the monthly data from 1996-2009, analyzes the functioning of monetary policy transmission mechanisms in china, highlighting the role performed by the credit system. Firstly, We extend the Bernanke and Blinder model to the case of an open economy, deriving analytically the conditions for the functioning of the three monetary policy channels: money, exchange rate and credit. And then, By means of a structural VAR analysis, we evaluate the effectiveness of the transmission of monetary policy through the three channels. The results shows that, credit channel significantly enlarge the effects of monetary policy." @default.
- W1835536425 created "2016-06-24" @default.
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- W1835536425 date "2010-05-01" @default.
- W1835536425 modified "2023-09-24" @default.
- W1835536425 title "Notice of Retraction: The Bernanke-Blinder Model in an Open Economy: Credit Channel, Money Transmission and Output Fluctuation" @default.
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- W1835536425 doi "https://doi.org/10.1109/icee.2010.752" @default.
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