An Empirical Analysis on the Asymmetric Regional Effects of Chinese Monetary Policy: Based on the VAR Models of Jiangsu and Henan Province

2009 ◽  
Author(s):  
Lina He
Keyword(s):  
Monetary Policy ◽  
Empirical Analysis ◽  
Henan Province ◽  
Var Models ◽  
Regional Effects

Regional effects of inflation targeting in Russia: Factors of heterogeneity and structural inflation rates

2019 ◽  
pp. 70-89
Author(s):  
Michael I. Zhemkov
Keyword(s):  
Monetary Policy ◽  
Inflation Targeting ◽  
Structural Factors ◽  
Regional Effects ◽  
Inflation Rates ◽  
Price Growth ◽  
Effective Exchange ◽  
The Difference ◽  
Communication Policies ◽  
Structural Levels

Inflation targeting in Russia implies maintaining stable low inflation at a level of 4% throughout the country. The presence of structural factors in some regions can determine deviations from the all-Russian inflation, which can lead to different effects of monetary policy in Russian regions. In this paper, we analyze regional heterogeneity of inflation and factors of inflation deviations from the national average, estimate structural levels of inflation in the regions of Russian Federation. These estimates confirm the presence of some regional factors of inflation deviations from the all-Russian indicator, such as the difference in productivity growth of the tradable and non-tradable sectors (Balassa—Samuelson effect), effective exchange rates, real incomes and product stocks. In addition, our results confirm the presence of regions with price growth rate above and below monetary policy target. The results of this research can be used for the development of monetary and communication policies.

scholarly journals Monetary Policy, Fiscal Policy, and Investment Spending: An Empirical Analysis

1986 ◽  
Vol 52 (3) ◽  
pp. 794 ◽  
Author(s):  
Abdur R. Chowdhury ◽  
James S. Fackler ◽  
W. Douglas McMillin
Keyword(s):  
Monetary Policy ◽  
Fiscal Policy ◽  
Empirical Analysis ◽  
Investment Spending

scholarly journals Economic Growth, Policies and Influencing Factors: The Case of Albania

2016 ◽  
Vol 4 (1) ◽  
pp. 107
Author(s):  
Eleni Vangjeli ◽  
Anila Mancka
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Fiscal Policy ◽  
Interest Rates ◽  
Empirical Analysis ◽  
Influencing Factors ◽  
Fiscal Policies ◽  
The Government ◽  
High Level ◽  
The Empirical Analysis

Monetary and fiscal policies are two policies that the government could use to keep a high level of growth, with a low inflancion. Fiscal policy has its initial impact on the stock market, while monetary policy in market assets. But, given that the goods and active markets are closely interrelated, both policies, monetary as well as fiscal have impact on the economy, increasing the level of product through the reduction of interest rates. In our paper we will show how functioning monetary and fiscal policies. But also in our paper we will analyze the different factors which have affected the economic growth of the country. The focus of our study is the graphical and empirical analysis of economic growth, policies and influencing factors. For the empirical analysis we have used data on the economic growth in Albania for 1996– 2014.

PERFORMANCE OF CHINA’S CORE INFLATION MEASURES FOR MONETARY POLICY

2021 ◽  
pp. 1-28
Author(s):  
YUSHAN HU ◽  
PENGLONG ZHANG
Keyword(s):  
Monetary Policy ◽  
Money Supply ◽  
Output Growth ◽  
New Keynesian ◽  
Var Models ◽  
Aggregated Data ◽  
Core Inflation ◽  
Supply Shocks ◽  
Supply Shock ◽  
Key Characteristics

In this paper, China’s core inflation is defined as any price changes that are caused by the money supply. This definition is especially relevant to examining monetary policy because the money supply is controllable by China’s central bank. This paper develops a New Keynesian DSGE model with a quantity-based monetary rule that fits real aggregated data from China to analyze core inflation’s key characteristics. Eight different approaches are used to estimate core inflation in China. By constructing VAR models of output growth, money supply growth and core inflation, we estimate the response of core inflation measures to the money supply shock. By matching the response to money supply shocks in both the model and the data, we compare the performance of different core inflation measures for monetary policy in China.

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