Read more
By applying modern monetary theories to China's reality, this book reviews the development practice of China's monetary policy and discusses the transitional goals of China's monetary policy in the new stage of high-quality economic development.
The book focuses on the formation mechanism of China's inflation from the perspective of learning expectations, adaptive learning and dual labor market structure. It examines the monetary policy objectives of inflation management in an open economy, analyzes the causes of China's price fluctuations from a global perspective and discusses the optimal policy space of the optimal RME exchange rate regime and the synergy between finance and business cycles. The author proposes a policy framework of capital regulation to deal with financial shocks and provides monetary policy options to deal with financial and business cycles. This work helps readers to understand the internal theoretical logic of the target transition of China's monetary policy framework and points out that China's monetary policy reforms are driven by the economic contradictions it faces at different stages of development.
The title will provide references for scholars, students and policymakers interested in China's monetary policy and provide experience and guidance for other developing countries to set their monetary policy targets and promote the transition of the monetary system.
List of contents
Introduction
1 Literature Review of Research on Monetary Policy
2 Learning Expectations and Inflation Persistence
3 Adaptive Learning and Inflation in Nonequilibrium Operation
4 Inflation Dynamics in a Dual Labor Market
5 Driving Factors of China's Inflation
6 Speed of Learning Process and China's Extended New Phillips Curve
7 International Transmission Mechanism of Price Fluctuations
8 The Impact of Globalization on China's Price Level
9 Exchange Rate Regime Targeting on Price and Exchange Rate Stability
10 Monetary Policy Regulation under Heterogeneous Financial Shocks
11 Monetary Policy Reform in Differentiation of Economic and Financial Cycles
12 High-Quality Development and the Transition of Monetary Policy Framework
About the author
Fan Conglai is professor and doctoral supervisor at Nanjing University, Director of the Yangtze River Delta Economic and Social Development Research Center at Nanjing University, China. His research directions are monetary economics, corporate finance and monetary policy.
Summary
By applying modern monetary theories to China's reality, this book reviews the development practice of China's monetary policy and discusses the transitional goals of China's monetary policy in the new stage of high-quality economic development.
