In the transition of Chinese economy to marketing economy, the dramatic monetary expansion since 1978 is a prominent feature of the Chinese economy. Despite repeated attempts, researches on M0 are few. This article gi...In the transition of Chinese economy to marketing economy, the dramatic monetary expansion since 1978 is a prominent feature of the Chinese economy. Despite repeated attempts, researches on M0 are few. This article gives the ECM on M0 and tests both hypothesis about the M0 expansion: Repressed inflation and Monetization. In the last, it analyzes the factors which affects the demand for M0 and offers some policy advice.展开更多
文摘In the transition of Chinese economy to marketing economy, the dramatic monetary expansion since 1978 is a prominent feature of the Chinese economy. Despite repeated attempts, researches on M0 are few. This article gives the ECM on M0 and tests both hypothesis about the M0 expansion: Repressed inflation and Monetization. In the last, it analyzes the factors which affects the demand for M0 and offers some policy advice.
