"The Chinese economy is now easily one of the most important and closely scrutinized economies in the world. Relatively minuscule changes in predictions of how the Chinese economy will perform can drive up or down stocks and the price of oil and other commodities. At the heart of how the Chinese...

In recent years, the economic and financial linkages of major economies have become intertwined, and the cross-market contagion effect of the global financial crisis has become more apparent. This paper mainly studies the expectation transmission and policy synchronisation in international...

In recent years, the economic and financial linkages of major economies have become intertwined, and the cross-market contagion effect of the global financial crisis has become more apparent. This paper mainly studies the expectation transmission and policy synchronization in international...

The Chinese version of this paper can be found at: "http://ssrn.com/abstract=2949313" http://ssrn.com/abstract=2949313.The traditional “Impossible Trinity” is an equilateral triangle. But since 2008, importance of capital flow has been greatly elevated, and equilateral triangle has...

Banks' shadow, or money creation by banks beyond traditional loans, plays an important role in China's money-creation process, posing a number of challenges to monetary policy operations and financial risk management. This paper analyzes the money-creation mechanisms of China's shadow banking...