Similar Search Results

Macroeconomic Effects of China'S Financial Policies

Chen, Kaiji - 2018

The Chinese economy has undergone three major phases: the 1978-1997 period marked as the SOE-led economy, the 1998 …-2015 phase as the investment-driven economy, and the new normal economy since 2016. All three economies have been shaped by the … one economy to another was driven mainly by regime changes in financial policies …

Persistent link: https://www.econbiz.de/10012908470

International Coordination in the Design of Macroeconomic Policy Rules

Taylor, John B. - 2021

The paper examines international issues that arise in the design and evaluation of macroeconomic policy rules. It begins with a theoretical investigation of the effects of fiscal and monetary policy in a two-country rational expectations model with staggered wage and price setting and with...

Persistent link: https://www.econbiz.de/10013247284

The Nexus of Monetary Policy and Shadow Banking in China

Chen, Kaiji - 2017

We estimate the quantity-based monetary policy system in China. We argue that China's rising shadow banking was inextricably linked to banks' balance-sheet risk and hampered the effectiveness of monetary policy on the banking system during the 2009-2015 period of monetary policy contractions. By...

Persistent link: https://www.econbiz.de/10012956932

Surprising Comparative Properties of Monetary Models : Results from a New Data Base

Taylor, John B. - 2010

In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy …

Persistent link: https://www.econbiz.de/10012757616

Modest Policy Interventions

Leeper, Eric M.; Zha, Tao A. - 2021

We present a framework for computing and evaluating linear projections of macro variables conditional on hypothetical paths of monetary policy. A modest policy intervention is a change in policy that does not significantly shift agents' beliefs about policy regime and does not generate...

Persistent link: https://www.econbiz.de/10013247250

Impacts of Monetary Stimulus on Credit Allocation and the Macroeconomy : Evidence from China

Chen, Kaiji - 2016

We develop a new empirical framework to identify and estimate the effects of monetary stimulus on the real economy. The … framework is applied to the Chinese economy when monetary policy in normal times was switched to an extraordinarily expansionary … high as a 4% increase of real GDP growth rate by the end of 2009. Monetary transmission to the real economy was through …

Persistent link: https://www.econbiz.de/10012982935

Estimated Impact of the Fed's Mortgage-Backed Securities Purchase Program

Stroebel, Johannes - 2010

We examine the quantitative impact of the Federal Reserve's mortgage-backed securities (MBS) purchase program. We focus on how much of the recent decline in mortgage interest rate spreads can be attributed to these purchases. The question is more difficult than frequently perceived because of...

Persistent link: https://www.econbiz.de/10013149572

Trade Policy and Economic Development : How We Learn

Krueger, Anne O. - 2021

Ideas with regard to trade policy and economic development have changed radically since the 1950s. Then and now, it was recognized that trade policy was central to the overall design of policies for economic development. But in the early days, there was a broad consensus that trade policy for...

Persistent link: https://www.econbiz.de/10013247646

Theory and Practice of Commercial Policy : 1945-1990

Krueger, Anne O. - 2008

In this paper, the evolution of thought regarding protectionist trade policies in developed and in developing countries is examined and contrasted. In the developing countries distrust of markets and a belief in the infant industry argument led to highly protectionist trade regimes. The...

Persistent link: https://www.econbiz.de/10014074401

Trade Policy as an Input to Development

Krueger, Anne O. - 2022

My topic is the question: what difference does the set of commercial policies chosen by a developing country make to its rate of economic growth? Three points are salient. First, in its present state, trade theory provides little guidance as to the role of trade policy and trade strategy in...

Persistent link: https://www.econbiz.de/10013324484