Title :
The analysis of oil shock and monetary policy of China
Author :
Cong, Ronggang ; Wang, Xiaohui
Author_Institution :
Sch. of Econ. & Manage., North China Electr. Power Univ., Beijing, China
Abstract :
Given the time series quarterly data of China from 1993 to 2006, we apply the SVAR model to analysis the effect of oil shock on GDP and price index of China and the monetary policy the government should take facing oil shock. The empirical result shows that the effects of oil shock on inflation and GDP are asymmetry, central bank can decrease the interests and put in currencies to regulate the macro economy.
Keywords :
economic indicators; macroeconomics; petroleum industry; pricing; regression analysis; time series; China; GDP; SVAR; macroeconomy; monetary policy; oil shock analysis; price index; time series; Analytical models; Economic indicators; Electric shock; Industries; Mathematical model; Reactive power; monetary policy response; oil price shock; structural VAR model;
Conference_Titel :
Artificial Intelligence, Management Science and Electronic Commerce (AIMSEC), 2011 2nd International Conference on
Conference_Location :
Deng Leng
Print_ISBN :
978-1-4577-0535-9
DOI :
10.1109/AIMSEC.2011.6010862
