He, Dong; Wang, Honglin - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2011
China has a dual-track interest-rate system: bank deposit and lending rates are regulated while money and bond rates are market-determined. The central bank also imposes an indicative target, which may not be binding at all times, for total credit in the banking system. We develop and calibrate...
