Research Article
Liquidity, Asset Price Volatility, and Monetary Policy Choices: Empirical Evidence from China
Table 1
Descriptive statistics of the main variables.
| Classifications | Variables | N | Mean | Median | Std. Dev. | Skewness | Kurtosis |
| Asset price volatility | SP | 168 | 13.6198 | 0.4050 | 51.4067 | 1.9663 | 7.1568 | HP | 168 | 7.7762 | 7.3788 | 5.7710 | 0.2483 | 3.0319 |
| Liquidity | LC | 168 | 0.3139 | 0.3068 | 0.0316 | 0.2692 | 1.7443 | LB | 168 | 3.0598 | 3.1741 | 0.9495 | 0.4643 | 4.7869 | LM | 168 | ā4.8247 | 0.6637 | 31.9942 | ā0.6278 | 3.0640 |
| Monetary policy | M2 | 168 | 14.1606 | 13.3500 | 5.0737 | 1.1856 | 4.3151 | R | 168 | 2.8398 | 2.7016 | 0.9422 | 0.7830 | 4.7956 |
| Macroeconomy | GDP | 168 | 11.6973 | 10.2100 | 5.8310 | 0.3130 | 3.1829 | CPI | 168 | 2.7514 | 2.3600 | 1.9844 | 0.6028 | 3.8277 |
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