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Spillovers from Japan's unconventional monetary policy to emerging Asia : a global VAR approach
Ganelli, Giovanni; Tawk, Nour - 2016
We use a Global VAR model to study spillovers from the Bank of Japan's quantitative and qualitative easing (QQE) on … emerging Asia.1 Our main result is that, despite an appreciation of their currencies vis-a-vis the yen, the impact on emerging … Asia's GDP tended to be positive and significant. Our results suggest that the positive effect of QQE on expectations, by …
Persistent link: https://www.econbiz.de/10011711367
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Fiscal Stimulus to the Rescue? : Short-Run Benefits and Potential Long-Run Costs of Fiscal Deficits
Laxton, Douglas - 2009
This paper uses the IMF''s Global Integrated Monetary and Fiscal Model to compute shortrun multipliers of fiscal stimulus measures and long-run crowding-out effects of higher debt. Multipliers of two-year stimulus range from 0.2 to 2.2 depending on the fiscal instrument, the extent of monetary...
Persistent link: https://www.econbiz.de/10014402228
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The Changing Structure of Japanese Trade Flows
International Monetary Fund - 1990
The changes to the structure of Japanese exports and imports in the second half of the 1980s departed significantly from past trends. Econometric analysis confirms that some of the structural changes—notably the importance of consumer goods trade—cannot be fully explained using conventional...
Persistent link: https://www.econbiz.de/10014395910
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Demographic Change in Asia : The Impacton Optimal National Saving, Investment, and the Current Account
McDonald, Ian - 2000
economies—Hong Kong SAR, Japan, Singapore, Malaysia, and the Philippines—for the period 1997–2050 using a simulation approach …
Persistent link: https://www.econbiz.de/10014399958
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Why Do Emerging Economies Borrow in Foreign Currency?
Jeanne, Olivier - 2003
This paper explores the hypothesis that the dollarization of liabilities in emerging market economies is the result of a lack of monetary credibility. I present a model in which firms choose the currency composition of their debts so as to minimize their probability of default. Decreasing...
Persistent link: https://www.econbiz.de/10014403679
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Foreign Currency Deposits : Implications for Macroeconomic Policies
Georgiou, Andréas - 1991
This paper discusses the relationship between foreign currency deposits and money, and it shows that the indexation of part of the nominal money supply to the exchange rate, as a result of the presence of foreign currency deposits, will increase the inflationary effects of monetary disequilibria...
Persistent link: https://www.econbiz.de/10014395845
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Currency Substitution in Egypt and the Yemen Arab Republic : A Comparative Quantitative Analysis
International Monetary Fund - 1987
The paper provides an empirical analysis of the determinants of currency substitution in Egypt and the Yemen Arab Republic over the period 1980-86. During this period, residents have exhibited a marked preference to substitute foreign money balances for domestic balances, as indicated by their...
Persistent link: https://www.econbiz.de/10014396179
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Determinants of Emigrant Deposits in Cape Verde
International Monetary Fund - 2006
In the last decade Cape Verde has experienced a strong accumulation of emigrant deposits. These deposits have provided much needed foreign exchange to the country, adding support to the exchange rate peg. This paper studies the long-run determinants of emigrant deposits with respect to risk,...
Persistent link: https://www.econbiz.de/10014400380
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Effects of emerging market asset purchase program announcements on financial markets during the COVID-19 pandemic
Sever, Can; Goel, Rohit; Drakopoulos, Dimitris; … - 2020
The COVID-19 pandemic led many emerging market central banks to adopt, for the first time, unconventional policies in the form of asset purchase programs. In this study, we analyze the effects of these announcements on domestic financial markets using both event studies and local projections...
Persistent link: https://www.econbiz.de/10012487164
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From global savings glut to financing infrastructure : the advent of investment platforms
Arezki, Rabah; Bolton, Patrick; Peters, Sanjay; Samama, … - 2016
This paper investigates the emerging global landscape for public-private co-investments in infrastructure. The creation of the Asian Infrastructure Investment Bank and other so-called 'infrastructure investment platforms' are an attempt to tap into the pool of both public and private long-term...
Persistent link: https://www.econbiz.de/10011436772