Cai, Yucheng; Taguchi, Hiroyuki - In: Economics Bulletin 35 (2015) 1, pp. 122-132
This paper examines the monetary policy rule in practice for China during the period from 1998Q1 to 2014Q2 by applying the Taylor rule and by estimating policy reaction functions. The analysis would be significant since during that period the monetary-policy instruments and targets have been...