A Trade-off Between Monetary Policy Transmission and Systemic Risk in China
收藏NBER2025-07-01 更新2025-07-26 收录
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https://www.nber.org/papers/w34056
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资源简介：
We examine how interbank wholesale funding shapes the transmission of interest-rate-based monetary policy in China and contributes to systemic risk. Using a bank-level quarterly panel dataset and an estimated policy rule for the 7-day repo rate, we find that access to wholesale funding amplifies the
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美国国家经济研究局创建时间：
2025-07-01
