Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212866 
Year of Publication: 
2017
Series/Report no.: 
BOFIT Discussion Papers No. 3/2017
Publisher: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
Abstract: 
This paper discusses the macroeconomic effects of China's informal banking regulatory tool "win-dow guidance," introduced in 1998. Using an open-economy DSGE model that includes the com-mercial banking sector, we study the stabilizing effects of this non-standard quantitative monetary policy tool and the implications of quantity-based vs. price-based monetary policy instruments for welfare. The analyses are relevant to the current overhaul of Chinese monetary policy.
JEL: 
C61
E32
E44
E52
Persistent Identifier of the first edition: 
ISBN: 
978-952-323-154-2
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.