Le, Vo Phuong Mai; Matthews, Kent; Meenagh, David; … - 2015
This paper develops a model of the Chinese economy using a DSGE framework that accommodates a banking sector and money … the crisis were international and that domestic banking shocks were unimportant. Officially mandated bank lending and …. We find that monetary policy can be used more vigorously to stabilise the economy, making direct banking controls and …