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Market and Non-Market Monetary Policy Tools in a Calibrated DSGE Model for Mainland China
Funke, Michael; Paetz, Michael; Chen, Qianying - Institut für Makroökonomie und Wirtschaftspolitik, … - 2012
Monetary policy in mainland China differs from conventional central bank- ing in several respects. The central bank … captures China’s unconventional monetary policy toolkit. We find that credit quotas are impor- tant as the interest …-rate corridor distorts the efficient reactions of the economy. Moreover, for China’s central bankers the choice of a particular …
Persistent link: https://www.econbiz.de/10010559457
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Monetary policy transmission in China: A DSGE model with parallel shadow banking and interest rate control
Funke, Michael; Mihaylovski, Petar; Zhu, Haibin - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2015
sector in mainland China by means of a nonlinear stochastic general equilibrium (DSGE) model with occasionally binding …, tighter regulation of interest rates in the commercial banking sector in China leads to an increase in loans provided by the …
Persistent link: https://www.econbiz.de/10011204441
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Financial system reforms and China’s monetary policy framework: A DSGE-based assessment of initiatives and proposals
Funke, Michael; Paetz, Michael - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2012
This paper evaluates various financial system reform initiatives and proposals in China in a DSGE modelling setting …
Persistent link: https://www.econbiz.de/10010818554
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Financial system reforms and China's monetary policy framework: A DSGE-based assessment of initiatives and proposals
Funke, Michael; Paetz, Michael - 2012
This paper evaluates various financial system reform initiatives and proposals in China in a DSGE modelling setting …
Persistent link: https://www.econbiz.de/10012148685
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Monetary Policy Transmission in China : A DSGE Model with Parallel Shadow Banking and Interest Rate Control
Funke, Michael - 2015
sector in mainland China by means of a nonlinear stochastic general equilibrium (DSGE) model with occasionally binding …, tighter regulation of interest rates in the commercial banking sector in China leads to an increase in loans provided by the …
Persistent link: https://www.econbiz.de/10013026123
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Monetary Policy Transmission in China : A DSGE Model with Parallel Shadow Banking and Interest Rate Control
Funke, Michael - 2015
sector in mainland China by means of a nonlinear stochastic general equilibrium (DSGE) model with occasionally binding …, tighter regulation of interest rates in the commercial banking sector in China leads to an increase in loans provided by the …
Persistent link: https://www.econbiz.de/10013022850
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Financial System Reforms and China's Monetary Policy Framework : A DSGE-Based Assessment of Initiatives and Proposals
Funke, Michael - 2014
This paper evaluates various financial system reform initiatives and proposals in China in a DSGE modelling setting …
Persistent link: https://www.econbiz.de/10013064901
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Market and Non-Market Monetary Policy Tools in a Calibrated DSGE Model for Mainland China
Chen, Qianying - 2014
Monetary policy in mainland China differs from conventional central banking in several respects. The central bank … captures China's unconventional monetary policy toolkit. We find that credit quotas are important as the interest-rate corridor … distorts the efficient reactions of the economy. Moreover, for China's central bankers the choice of a particular monetary …
Persistent link: https://www.econbiz.de/10013065817
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House prices and macroprudential policy in an estimated DSGE model of New Zealand
Funke, Michael; Kirkby, Robert; Mihaylovski, Petar - 2017
We analyse the effects of macroprudential and monetary policies and their interactions using an estimated dynamic stochastic general equilibrium (DSGE) model tailored to New Zealand. We find that the main historical drivers of house prices are shocks specific to the housing sector. While our...
Persistent link: https://www.econbiz.de/10011657893
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Out of sync subnational housing markets and macroprudential policies
Funke, Michael; Mihaylovski, Petar; Wende, Adrian - 2018
In view of regional house prices drifting apart, we examine whether regionally differentiated macroprudential policies can address financial stability concerns and moderate house price differences. To this end, we disaggregate both the household sector and the housing stock in a two-region DSGE...
Persistent link: https://www.econbiz.de/10011794305