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- W3121150744 abstract "This paper tries to answer the long-standing question of whether money causes output. Instead of focusing on domestic monetary policy and output, we analyze U.S. monetary policy and its possible effects on real output in China. Our results indicate that the main monetary instrument in the U.S., the Federal Fund Rate, Granger causes China’s output. A second monetary variable, U.S. money supply, does not seem to have a significant effect on China’s output. The results are supported by variance decompositions, which indicate that Federal Fund Rate shocks have an effect on China’s real output. The findings have important implications for policy makers in China that focus on maintaining a high and stable economic growth." @default.
- W3121150744 created "2021-02-01" @default.
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- W3121150744 date "2009-05-15" @default.
- W3121150744 modified "2023-09-27" @default.
- W3121150744 title "IS U.S. MONEY CAUSING CHINA'S OUTPUT?" @default.
- W3121150744 hasPublicationYear "2009" @default.
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