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Monetary policy and the over-investment cycle: China as an extreme case. CEPS Commentary, 27 August 2015

Gros, Daniel. (2015) Monetary policy and the over-investment cycle: China as an extreme case. CEPS Commentary, 27 August 2015. [Policy Paper]

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    Abstract

    Against the background of the severe turbulence that is hitting global stock markets, Daniel Gros examines the looming slowdown in the Chinese economy in this CEPS Commentary, which he attributes to an underlying ‘real’ domestic investment/savings imbalance. Given the magnitude of this imbalance, Gros thinks it is unlikely to be solved by monetary policy and that the best that can be hoped for is that the central banks will manage to ‘paper over’ some of the unavoidable symptoms in credit markets.

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    Item Type: Policy Paper
    Subjects for non-EU documents: Countries > China
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Commentaries
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 02 Sep 2015 12:25
    Number of Pages: 5
    Last Modified: 02 Sep 2015 12:25
    URI: http://aei.pitt.edu/id/eprint/67173

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