Chen, Hongyi; Li, Ran; Tillmann, Peter - 2018 - This version: February 06, 2018
This paper studies whether monetary transmission in China is asymmetric. While researchers found an asymmetric … transmission in the U.S. and other economies, China offers a specific rationale for asymmetries: the presence of state … provide evidence of a systematic and sizable asymmetry in the transmission of monetary policy shocks in China. The nature of …