Monetary policy, asset prices and consumption in China

Tuuli Koivu

No 18/2010, BOFIT Discussion Papers from Bank of Finland Institute for Emerging Economies (BOFIT)

Abstract: This paper studies the wealth channel in China. Using the structural vector autoregression method, we find that a loosening of China.s monetary policy indeed leads to higher asset prices, which in turn are linked to household consumption. However, the importance of the wealth channel as a part of the monetary policy transmission mechanism in China is still limited.

Keywords: China; monetary policy; asset prices (search for similar items in EconPapers)
JEL-codes: E52 P24 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:bofitp:bdp2010_018

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