In addition to privatization, marketization, liberalization and pragmatization, monetization has been argued as the fifth feature in China's economic reform. If monetization is taken to mean a process through which variations in money supply or interest rate are to affect macroeconomic...

Monetization has been argued as the fifth feature in China's economic reform in addition to privatization, marketization, liberalization and pragmatization. If monetization is taken to mean a process through which variations in money supply or interest rate are to affect macroeconomic variables,...

We investigate the heterogeneity in the effects of monetary policy shocks on the distribution of wages and hours worked, using unique contract-level data from the Czech labor market and identifying monetary policy shocks using a narrative approach based on market suprises in interest rate...