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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| 格式: | 杂志 |
| 语言: | English |
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Washington, D.C. :
International Monetary Fund,
2011.
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| 丛编: | IMF Working Papers; Working Paper ;
No. 2011/225 |
| 在线阅读: | Full text available on IMF |