Journal article
US monetary policy shocks and the Chinese economy: a GVAR approach
Applied Economics Letters, Vol.24(8), pp.553-558
2017
Abstract
Using a global vector auto regressive (GVAR) methodology, this article examines the impact of US monetary policy shocks on China's major macroeconomic indicators. Our analysis reveals that a positive shock to the US money supply growth rate initially increases China's inflation rate but after some time this effect completely disappears. This shock also raises China's short-term interest rate and the Chinese currency appreciates against the US dollar. A positive shock to the US short-term interest rate increases China's short-term interest rate but the real output growth and inflation rates decline and the Chinese currency appreciates.
Details
- Title
- US monetary policy shocks and the Chinese economy: a GVAR approach
- Authors
- Yujiang Bi (Author) - Shanghai Lixin University of Commerce, ChinaSajid Anwar (Author) - University of the Sunshine Coast - Faculty of Arts, Business and Law
- Publication details
- Applied Economics Letters, Vol.24(8), pp.553-558
- Publisher
- Routledge
- Date published
- 2017
- DOI
- 10.1080/13504851.2016.1210761
- ISSN
- 1350-4851
- Organisation Unit
- School of Business and Creative Industries; Indigenous and Transcultural Research Centre; University of the Sunshine Coast, Queensland; USC Business School - Legacy
- Language
- English
- Record Identifier
- 99450413102621
- Output Type
- Journal article
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