What We Learn from China's Rising Shadow Banking: Exploring the Nexus of Monetary Tightening and Banks' Role in Entrusted Lending
NBER Working Paper No. 21890
---- Acknowledgments ----
This research is supported in part by the National Natural Science Foundation of China (NNSFC) Grant Numbers 71473168 and 71473169. We thank Marty Eichenbaum, Sergio Rebelo, Richard Rogerson, and Zheng (Michael) Song for helpful discussions. We are grateful to Karen Zhong for her outstanding research assistance. The views expressed herein are those of the authors and do not necessarily reflect those of the Federal Reserve Bank of Atlanta, the Federal Reserve System, or the National Bureau of Economic Research.