Aggressive Monetary and Fiscal Policy Impact on Household Wealth: A Comparative Analysis of China and Japan

RUIZHE HU

doi:10.20944/preprints202410.0938.v1

Preprint Article Version 1 This version is not peer-reviewed

Version 1 : Received: 10 October 2024 / Approved: 11 October 2024 / Online: 11 October 2024 (14:45:09 CEST)

This paper uses a Vector Autoregression (VAR) model and linear regression to analyze the effects of aggressive monetary policies (such as RRR cuts and interest rate reductions) and fiscal measures (like government bond issuance) on household wealth in China, with a focus on housing assets. A comparative analysis with Japan is conducted to explore the transmission mechanisms and the policies’ impacts on housing prices, wealth distribution, and economic growth. The findings highlight the significant role of monetary and fiscal interventions in shaping the housing market dynamics across different economic contexts.

Monetary Policy; Fiscal Policy; Housing Price; China

Business, Economics and Management, Economics

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Aggressive Monetary and Fiscal Policy Impact on Household Wealth: A Comparative Analysis of China and Japan

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