THE INS & OUTS OF CHINESE MONETARY POLICY TRANSMISSION

2026

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AI-generated summary

1) This paper analyzes the transmission mechanisms of Chinese monetary policy, both domestically and internationally, highlighting its significant global impact.
2) The study introduces a novel composite monetary policy indicator for China, estimates an endogenous policy rule, and examines the domestic and international spillovers of monetary policy.
3) Key findings include that domestic transmission follows textbook patterns, while international spillovers are powerful and primarily operate through trade and commodity markets, significantly affecting global output and prices.

Tags: China, monetary policy, transmission, spillovers, global economy

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