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- W2374794315 abstract "Potential output,natural rate of interest and equilibrium rate of exchange are important references for the decision and evaluation of monetary policies.This paper employs the state-space model to estimate jointly the potential output,natural rate of interest and equilibrium rate of exchange in China.Based on this,it builds amixedTaylor rule with the component of exchange rate to estimate China's reaction function of monetary policy.The results show that the monetary policies in China react timely and steadily to the recent changes of inflation,output and exchange rate,but the forward-looking property of the policies remain to be further strengthened." @default.
- W2374794315 created "2016-06-24" @default.
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- W2374794315 date "2011-01-01" @default.
- W2374794315 modified "2023-09-23" @default.
- W2374794315 title "Taylor Rule and Reaction Function of China's Monetary Policy:A Study Based on Potential Output,Natural Interest Rate and Equilibrium Exchange Rate" @default.
- W2374794315 hasPublicationYear "2011" @default.
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