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2012•Journal of Shanxi Finance and Economics UniversityRequires access

Monetary Policy Rules of China under the Framework of Open Economy DSGE Models

Zhang Jie-ping

Open publisher page 1 citations

Abstract

This paper makes a comparative analysis of monetary policy rules of China under the framework of DSGE model.The results show that the hybrid rules is a more effective monetary policy,comparing with to single use money supply rules and interest rate rules,because it can significantly affect output and inflation,and technological impact on output fluctuations caused by small fluctuations in inflation,slightly larger.Therefore,hybrid rule is more suitable for use in China.

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What this paper is about

This paper makes a comparative analysis of monetary policy rules of China under the framework of DSGE model.The results show that the hybrid rules is a more effective monetary policy,comparing with to single use money supply rules and interest rate rules,because it can significantly affect output and inflation,and technological impact on output fluctuations caused by small fluctuations in inflation,slightly larger.Therefore,hybrid rule is more suitable for use in China.

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Available abstract

This paper makes a comparative analysis of monetary policy rules of China under the framework of DSGE model.The results show that the hybrid rules is a more effective monetary policy,comparing with to single use money supply rules and interest rate rules,because it can significantly affect output and inflation,and technological impact on output fluctuations caused by small fluctuations in inflation,slightly larger.Therefore,hybrid rule is more suitable for use in China.

Key concepts: Dynamic stochastic general equilibrium, Economics, Monetary policy, Inflation (cosmology), Monetary economics, China, Small open economy, Taylor rule

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