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The Transmission of Monetary Shocks in a Multi-Region Economy: The Case of China

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  • Yingyi Zhao

Abstract

This paper constructs a sticky price Dynamic Stochastic General Equilibrium model with multi-regions. Producers from different regions would range in price rigidity, production function, the regional structures of intermediate inputs. That is, firms from each area, can get intermediates and investments from all the regions in the country following the empirical Multi-region Input-Output table in China. Different from the previous symmetry model, the model in this paper allows idiosyncratic regional dynamics to the national monetary shocks. This model is calculated by the Bayesian estimation method using the regional and aggregate China empirical data.

Suggested Citation

  • Yingyi Zhao, 2019. "The Transmission of Monetary Shocks in a Multi-Region Economy: The Case of China," Asian Social Science, Canadian Center of Science and Education, vol. 15(4), pages 1-1, April.
    • Handle: RePEc:ibn:assjnl:v:15:y:2019:i:4:p:1
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    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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