Understanding Chinese Bond Yields and their Role in Monetary Policy /
China's financial prices are informative enough for the PBC to introduce a monetary policy framework centered around interest rates. While bond yields are not fully efficient?reflecting regulation, liquidity, and segmentation?we find they contain considerable information about the state of the...
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| Format: | Revista |
| Idioma: | English |
| Publicat: |
Washington, D.C. :
International Monetary Fund,
2011.
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| Col·lecció: | IMF Working Papers; Working Paper ;
No. 2011/225 |
| Accés en línia: | Full text available on IMF |