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- W3125290198 abstract "This paper discusses the macroeconomic effects of China’s informal banking regulatory tool “win-dow guidance,” introduced in 1998. Using an open-economy DSGE model that includes the com-mercial banking sector, we study the stabilizing effects of this non-standard quantitative monetary policy tool and the implications of quantity-based vs. price-based monetary policy instruments for welfare. The analyses are relevant to the current overhaul of Chinese monetary policy." @default.
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- W3125290198 date "2017-01-01" @default.
- W3125290198 modified "2023-10-17" @default.
- W3125290198 title "To Guide or Not to Guide? Quantitative Monetary Policy Tools and Macroeconomic Dynamics in China" @default.
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- W3125290198 doi "https://doi.org/10.2139/ssrn.2980537" @default.
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