Series: IMF Working Papers
Author(s): Sophia Chen , Lev Ratnovski , and Pi-Han Tsai
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 12 December 2017
Keywords: Asia and Pacific, China, Macroprudential Policy, Fiscal stimulus, Credit Growth, Multipliers, Comparative or Joint Analysis of Fiscal and Monetary or Stabilization Policy, General, Size and Spatial Distributions of Regional Economic Activity
We jointly estimate credit and fiscal multipliers in China. We use the tenure of the provincial party secretary, interacted with the type of stimulus used in other provinces, to obtain separate instruments for prov...