Title :
Technology Shocks and Monetary Policy in China
Author :
Wan, Jieqiu ; Xu, Tao
Author_Institution :
Sch. of Bus., Soochow Univ., Suzhou, China
Abstract :
In this paper, we construct an open-economy dynamic stochastic general equilibrium (DSGE) model to study the impact of the technology shocks on monetary policy in China. We find technology shocks have a more significant and direct impact on both monetary policy transmission channels and targets in China. It is necessary to pay close attention to technology shocks in making monetary policy and respond to it appropriately.
Keywords :
government policies; stochastic processes; utility theory; China; monetary policy targets; monetary policy transmission channels; open economy dynamic stochastic general equilibrium model; technology shocks; Biological system modeling; Economics; Electric shock; Equations; Investments; Production; Public finance; DSGE model; Monetary policy; Open economy; Technology shocks;
Conference_Titel :
E-Business and E-Government (ICEE), 2010 International Conference on
Conference_Location :
Guangzhou
Print_ISBN :
978-0-7695-3997-3
DOI :
10.1109/ICEE.2010.320
