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Not all cities are alike: House price heterogeneity and the design of macro-prudential policies in China

Michael Funke, Andrew Tsang () and Linxu Zhu

No 18/2018, BOFIT Discussion Papers from Bank of Finland, Institute for Economies in Transition

Abstract: This paper investigates the implementation of regionally differentiated macro-prudential policies in China. To assess the relative intensity of the city-level macro-prudential policies over time, we construct a time-varying city-level macro-prudential policy intensity indicator for 70 Chinese cities from 2010-2017. The empirical evidence shows China’s macro-prudential toolbox has gradually evolved toward city-level policies tailored to granular local conditions to mitigate risks.

JEL-codes: O18 E52 C38 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cna, nep-mac, nep-tra and nep-ure
Date: 2018-11-14
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Persistent link: https://EconPapers.repec.org/RePEc:bof:bofitp:2018_018

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