Title: Studies on the Asymmetric Relationships between Interest Rate Rules and Real Output and Inflation in China's Economy
Abstract: In this paper,the non-linear Taylor Rule was tested as the output gap and inflation expectations for transfer variable.The results show that monetary function is significantly characterized by the form of LSTAR1.This means that the change of economic growth and inflation expectation have a significant effect on the monetary policy of our country.There exist some discretion components in China's monetary policy due to its stable roles for business cycle.
Publication Year: 2011
Publication Date: 2011-01-01
Language: en
Type: article
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