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Propping up the chinese economy: Credit versus fiscal stimulus by Sophia Chen and Lev Ratnovski published by IMF (12/2017). “Credit booms are addictive. Credit supports growth and the perception of wealth. Yet credit booms are risky, and are often…

Credit and fiscal multipliers in China by Sophia Chen, Lev Ratnovski and Pi-Han Tsai published by IMF (12/2017). “…Our results suggest that reducing credit growth in China is unlikely to disrupt output growth, whereas fiscal policy may be effective…