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This paper estimates augmented versions of the Investment-Saving curve for the People's Republic of China in an attempt to examine the relationship between monetary policy and the real economy. It endeavors to account for any structural break, nonlinearity, or asymmetry in the transmission process by estimating a breakpoint model and a Markov switching model. The Investment-Saving curve equations are estimated using a Monetary Policy Index, which has been calculated using the Kalman filter.doi:10.1162/adev_a_00062 fatcat:3w2bfum32vekdnvnktgo3ur5em