The impact of international financial crisis and the effect of China's macro policy response - based on an open economy DSGE - VAR Model

  • linue Sun
Ariticle ID: 484
145 Views, 12 PDF Downloads
Keywords: financial crisis, monetary policy, fiscal Policy, economic cycle, China Economy

Abstract

leverages an open economy DSGE - VAR The model simulates and calculates the effects of the international financial crisis on China's economy and its transmission channels " , and U.S. quantitative easing monetary policy spillover effects on China's economy ; and discuss China's monetary and fiscal policies in this framework anti- effect , identifies the long-term factors that cause China's economic fluctuations . The results of the study show that , first , Exchange channels and trade channels are the main channels for international finance The The crisis has an impact on China , US quantitative easing policy has a significant negative effect on China's economy . second , China government the Monetary and fiscal policy actions taken by the Government in response to the international financial crisis are timely and effective , Although the side effects are great ; without these stimulus policy , China's real output in 2009 Year will drop 5 percent , Exports will also drop significantly . third ,Consumer preference Impact , investment flush Click , Import price index impact , the main reason for China's macroeconomic fluctuation is the impact of interest rate shocks and foreign economic fluctuations .

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Published
2018-09-17
How to Cite
Sun, linue. (2018). The impact of international financial crisis and the effect of China’s macro policy response - based on an open economy DSGE - VAR Model. Financial Forum. https://doi.org/10.18282/ff.v0i0.484
Section
Article