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Empirical Analysis Of China’S Exchange Rate And Macroeconomic Policy, Jia Ji
Empirical Analysis Of China’S Exchange Rate And Macroeconomic Policy, Jia Ji
Dissertations, Theses, and Capstone Projects
This dissertation examines the effects of exchange rate and macroeconomic policy in China. It consists of three chapters. Chapter 1 explores the dynamics of monetary transmission mechanism. As China’s domestic financial markets deepen and develop further toward a market-based system, the country’s monetary policy transmission should continue to improve in the sense that the policy instrument’s influence on economic conditions increases in magnitude and stabilized across time. Using a short-term key interest rate as a standard monetary policy tool and time-varying parameter techniques, this study empirically demonstrates that China’s monetary policy framework is in the midst of transitioning to a …