Bank of Canada: Chinese shocks have global bearing
China adjusts more slowly to shocks than larger advanced economies because its monetary policy is less effective, a Bank of Canada paper published in July shows.
The authors, Jeannine Bailliu and Patrick Blagrave, incorporate China into an existing model for the G-3 economies - the United States, the euro area, and Japan - to better understand the dynamics of the Chinese economy and its interaction with the global economy. The authors pay particular attention to modelling the exchange rate and
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