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than 4/5 of the variation. We apply the regression results to assess China's current account over the next six years …
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monetary model for China, in which we include also other monetary policy tools besides the central bank interest rate, namely … reserve requirement ratios and open market operations. Our results suggest China has been relatively successful in isolating … conclude that by employing capital controls and relying on other instruments than the interest rate China has been able to …
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