Monetary Policy and Lending Distortion in China.

Ding, Xiaozhou.


  • Abstract: The author investigates the effects of monetary policy in a distortionary economy consisting of two types of firms: State-Owned Enterprises (SOEs) and Private-Owned Enterprises (POEs). They mainly differ in the ability of getting loans from commercial banks. By modelling the differences between SOEs and POEs with dynamic stochastic general equilibrium model, the author solves the large e... read more
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