117
Views
9
CrossRef citations to date
0
Altmetric
Original Articles

An analysis of Chinese money and prices using a McCallum-type rule

, &
Pages 219-235 | Received 10 Jun 2008, Accepted 20 Dec 2008, Published online: 19 May 2009

References

  • Amisano , G and Giannini , C . 1997 . Topics in structural VAR econometrics , Berlin : Springer Verlag .
  • Banerjee , A and Marcellino , M . 2006 . Are there any reliable leading indicators for US inflation and GDP growth? . International Journal of Forecasting , 22 : 137 – 51 .
  • Bernanke , BS and Mihov , I . 1997 . What does the Bundesbank target? . European Economic Review , 41 : 1025 – 53 .
  • Burdekin , R and Siklos , P . 2008 . What has driven Chinese monetary policy since 1990? Investigating the People's Bank's policy rule . Journal of International Money and Finance , 27 : 847 – 59 .
  • Chow , GC and Shen , Y . 2005 . Money, price level and output in the Chinese macro-economy . Asia-Pacific Journal of Accounting and Economics , 12 ( 2 ) : 91 – 111 .
  • Dickinson , D and Liu , J . 2007 . The real effects of monetary policy in China: An empirical analysis . China Economic Review , 18 : 87 – 111 .
  • Geiger , M . 2008 . Instruments of monetary policy in China and their effectiveness: 1994–2006 . United Nations Conference on Trade and Development, Discussion Paper No. 187 . 2008 .
  • Goodhart , C and Hofmann. , B . 2002 . Asset prices and the conduct of monetary policy . Royal Economic Society Annual Conference 2002 ,
  • Koivu , T . 2009 . Has the Chinese economy become more sensitive to interest rates? Studying credit demand in China . China Economic Review , forthcoming
  • Kornai , J . 1992 . The socialist system: The political economy of communism , Oxford : Clarendon Press .
  • Kydland , FE and Prescott , EC . 1977 . Rules rather than discretion: The inconsistency of optimal plans . Journal of Political Economy , 85 : 473 – 91 .
  • Laurens , BJ and Maino. , R . 2007 . China: Strengthening monetary policy implementation . IMF Working Paper 07/14 ,
  • Liu , L-G and Zhang. , W . 2007 . A new Keynesian model for analysing monetary policy in mainland China . Hong Kong Monetary Authority Working Paper 18/2007 ,
  • Ma , G and McCauley , RN . 2008 . Efficacy of China's capital controls: Evidence from price and flow data . Pacific Economic Review , 13 : 104 – 23 .
  • Marcellino , M , Stock , JH and Watson , MW . 2003 . Macroeconomic forecasting in the Euro area: Country specific versus area-wide information . European Economic Review , 47 : 1 – 18 .
  • McCallum BT 1988. Robustness properties of a rule for monetary policy. Carnegie-Rochester Conference Series on Public Policy 29 (Autumn), 173–203
  • McCallum , BT . 1999 . “ Issues in the design of monetary policy rules ” . In Handbook of Macroeconomics 1C , Edited by: Taylor , JB and Woodford , M . Amsterdam : Elsevier Science BV .
  • McCallum , BT . 2003 . Japanese monetary policy, 1991–2001 . Federal Reserve Bank of Richmond Economic Quarterly , 89 ( 1 ) : 1 – 31 .
  • Mehrotra , AN . 2007 . Exchange and interest rate channels during a deflationary era – evidence from Japan, Hong Kong and China . Journal of Comparative Economics , 35 : 188 – 210 .
  • Mehrotra , A and Sánchez-Fung. , JR . 2008 . Forecasting inflation in China . China Economic Journal , 1 : 317 – 22 .
  • Mishkin , FS . 2001 . From monetary targeting to inflation targeting: Lessons from industrialized countries . World Bank Policy Research Working Paper 2684 ,
  • PBC 2005. China monetary policy Report, Quarter one, 2005. Monetary policy analysis group of the People's Bank of China. Beijing: China Financial Publishing House
  • PBC. 2006. China Monetary Policy Report, Quarter four. Monetary policy analysis group of the People's Bank of China. Beijing: China Financial Publishing House
  • Svensson , LEO . Asset prices and ECB monetary policy. Briefing paper for the Committee on Economic and Monetary Affairs of the European Parliament , 2004
  • Taylor , JB . 1993 . Discretion versus policy rules in practice . Carnegie-Rochester Conference Series on Public Policy , 39 : 195 – 214 .
  • Woodford , M . 2003 . Interest and prices: Foundations of a theory of monetary policy , Princeton : Princeton University Press .
  • Xie , P . 2004 . China's monetary policy: 1998–2002 . Stanford Center for International Development Working Paper No. 217 ,

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.