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Three Essays On The Impacts Of China’S Monetary Policy, Shen Chen
Three Essays On The Impacts Of China’S Monetary Policy, Shen Chen
Dissertations
China has experienced high speed of economic growth, trying to catch up with the developed countries. Monetary policy has played a more and more important role in China. This dissertation studies the impacts of China's monetary policy on China's housing market, stock market, and China's economic growth.
The first essay examines macroeconomic determinants of China's housing price by constructing a VAR model. Granger Causality tests, impulse response functions and variance decompositions are used to analyze the impacts of macroeconomic factors on the housing price. By using the monthly data from 2005 to 2015, the results show that a contractionary monetary …