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Dealing with quantitative easing spillovers in East Asia : the role of institutions and macroprudential policy

Saiki, Ayako; Pornpinun Chantapacdepong; Volz, Ulrich - 2016

This paper explores the impact of advanced countries' quantitative easing on emerging market economies (EMEs) and how macroprudential policy and good governance play a role in preventing potential financial vulnerabilities. We used confidential locational bank statistics data from the Bank for...

Persistent link: https://www.econbiz.de/10011561633

The role and effectiveness of unconventional monetary policy

Morgan, Peter J. - 2009

This paper reviews the effectiveness of unconventional monetary policies and their relevance for emerging markets. Such policies may be useful either when interbank rates fall to zero, or when a credit crunch or rise in risk premium impairs the normal transmission mechanism of monetary policy....

Persistent link: https://www.econbiz.de/10003901570

Monetary policy strategies in the Asia and Pacific Region : what way forward?

Filardo, Andrew J.; Genberg, Hans - 2010

Monetary policy frameworks in the Asia and Pacific region have performed well in the past decade as judged by inflation …

Persistent link: https://www.econbiz.de/10003982930

Asia confronts the impossible trinity

Patnaik, Ila; Shah, Ajay - 2010

In this paper, we examine capital account openness and exchange rate flexibility in 11 Asian economies. Asia has made …

Persistent link: https://www.econbiz.de/10003983122

Applying the lessons of Asia : the IMF's crisis management strategy in 2008

Takagi, Shinji - 2010

the lessons of Asia were applied. Compared to the Asian programs of 1997, the European programs of 2008 were better funded … the way the IMF does its business, Asia appears to remain unengaged. The lesson Asia should draw from Europe is that it … learned in Asia over 10 years ago be applied back in Asia to benefit its own people. …

Persistent link: https://www.econbiz.de/10003983130

International monetary transmission and exchange rate regimes : floaters vs. non-floaters

Kim, So-yŏng; Yang, Tu-yong - 2009

This paper analyzed the impact of United States (US) monetary shocks on the economies of selected East Asian countries using a structural vector autoregression model. We found that the impacts of the US monetary shocks on domestic interest rates and exchange rates contradict conventional wisdom....

Persistent link: https://www.econbiz.de/10003928020

Impact of US quantitative easing policy on emerging Asia

Morgan, Peter J. - 2011

aroused widespread concerns in Asia and elsewhere regarding its possible impact in terms of the weakening of the US dollar and … to Emerging Asia of $9 billion per quarter was estimated for the first two quarters of the QE2 period, which was …

Persistent link: https://www.econbiz.de/10009379704

Regional and global monetary cooperation

Lamberte, Mario B.; Morgan, Peter J. - 2012

example, the G20 and ASEAN+3 or East Asia Summit (EAS). Such a GFSN should include the IMF and RFAs at a minimum, and it is …

Persistent link: https://www.econbiz.de/10009492390

Response of stock markets to monetary policy : an Asian stock market perspective

Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad; … - 2014

We estimate the response of Asian stock market prices to exogenous monetary policy shocks using a vector error correction model. In our paper, monetary policy transmits to stock market price through three routes: money by itself, exchange rate, and inflation. Our result points to the fact that...

Persistent link: https://www.econbiz.de/10010400823

Dynamic analysis of exchange rate regimes : policy implications for emerging countries in Asia

Yoshino, Naoyuki; Kaji, Sahoko; Asonuma, Tamon - 2014

This paper discusses desirable exchange rate regimes and how countries can shift from their current regimes to these regimes over the medium term. We demonstrate the superiority of a basket-peg regime with the basket weight rule over a floating regime with the interest rate rule or the money...

Persistent link: https://www.econbiz.de/10010420010