| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23194 |
| 来源ID | Working Paper 23194 |
| China's Gradualistic Economic Approach and Financial Markets | |
| Markus K. Brunnermeier; Michael Sockin; Wei Xiong | |
| 发表日期 | 2017-02-27 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | China’s gradualistic approach allowed the government to learn how the economy reacts to small policy changes, and to adjust its reforms before implementing them in full. With fully developed financial markets, however, private actors’ may front-run future policy changes making it impossible for the implement policies gradually. With financial markets the government faces a time-inconsistency problem. The government would like to commit to a gradualistic approach, but after it observes the economy’s quick reaction, it has no incentive to implement its policies in small steps. |
| 主题 | Macroeconomics ; Monetary Policy ; Financial Economics ; Financial Markets |
| URL | https://www.nber.org/papers/w23194 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/580868 |
| 推荐引用方式 GB/T 7714 | Markus K. Brunnermeier,Michael Sockin,Wei Xiong. China's Gradualistic Economic Approach and Financial Markets. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23194.pdf（205KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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