China: Strengthening Monetary Policy Implementation Rodolfo Maino

ISBN: 9786613829535

Published: January 1st 2007

ebook

53 pages


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China: Strengthening Monetary Policy Implementation  by  Rodolfo Maino

China: Strengthening Monetary Policy Implementation by Rodolfo Maino
January 1st 2007 | ebook | PDF, EPUB, FB2, DjVu, talking book, mp3, RTF | 53 pages | ISBN: 9786613829535 | 4.68 Mb

The Peoples Bank of China (PBe has made great strides in modernizing its monetary policy frameworks but their effectiveness will diminish as the sophistication of the economy increases. Empirical evidence supports maintaining a reference to money inMoreThe Peoples Bank of China (PBe has made great strides in modernizing its monetary policy frameworks but their effectiveness will diminish as the sophistication of the economy increases. Empirical evidence supports maintaining a reference to money in Chinas monetary strategy and enhancing the role of interest rates in its conduct.

We advocate adoption of an eclectic strategy involving the monitoring of several indicators, and of a short-term interest rate as the operational target. The PBC should be granted discretion to change its policy rate, and there are no technical obstacles for such a move to occur in the near future.



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