Title

How Effective are Macroprudential Policies in China?

Bin Wang, Tao Sun

How Effective are Macroprudential Policies in China?

This paper investigates macroprudential policies and their role in containing systemic risk in China. It shows that China faces systemic risk in both the time (procyclicality) and cross-sectional (contagion) dimensions. The former is reflected as credit and asset price risks, while the latter is...