Understanding Chinese Bond Yields and their Role in Monetary Policy

Understanding Chinese Bond Yields and their Role in Monetary Policy
China''s financial prices are informative enough for the PBC to introduce a monetary policy framework centered around interest rates. While bond yields are not fully efficient?reflecting regulation, liquidity, and segmentation?we find they contain considerable information about the state of the economy as well as evidence of an emerging... READ MORE...

Publication date: September 2011
ISBN 9781463904937
$18.00

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