Existing studies usually investigate the effects of Trump’s trade war on U.S. financial markets by the event-study method. We take an alternative approach by integrating trade war-related news into one single "trade war shock" based on a structural vector autoregression model identified via...

This paper examines the impact of monetary policy shocks on credit bond yields in China. We find that, before 2014, a monetary policy loosening led to decreased bond yield dispersion, consistent with credit channel theory. However, after 2014, a substantial increase in bond yield dispersion...