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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

When the United States and the People's Republic of China sneeze : international real and financial spillovers in Asia

Beirne, John; Renzhi, Nuobu; Volz, Ulrich - 2021

Persistent link: https://www.econbiz.de/10012656593

Nonbank finance and monetary policy transmission in Asia

Beirne, John; Renzhi, Nuobu; Volz, Ulrich - 2022

Focusing on Asian economies over the period 2006 to 2019, we find that while nonbank finance appears to complement rather than substitute credit provision by the traditional banking sector, weaker regulatory quality is an important driving factor. Moreover, while we find that central bank policy...

Persistent link: https://www.econbiz.de/10012807600

Local currency bond markets, foreign investor participation, and capital flow volatility in emerging Asia

Beirne, John; Renzhi, Nuobu; Volz, Ulrich - 2021

This paper examines the role of local currency bond markets (LCBMs) and foreign investor participation in these markets in capital flow volatility in emerging Asian economies over the period 1999 to 2020. Using a panel analysis and impulse response functions generated from a panel structural...

Persistent link: https://www.econbiz.de/10012503333

The correlations of the equity markets in Asia and the impact of capital flow management measures

Pornpinun Chantapacdepong - 2017

This paper examines the international transmission of volatility in the stock markets of countries in emerging Asian economies (EAEs). The time period of the study is from before the Asian financial crisis until after the global financial crisis. Over two decades the degree of volatility...

Persistent link: https://www.econbiz.de/10011686493

Spillover effects of unconventional monetary policy in Asia and the Pacific

Punzi, Maria Teresa; Pornpinun Chantapacdepong - 2017

We assess the evolution of spillover effects of unconventional monetary policies (UMPs) on Asia and the Pacific region …, and evaluate the impact on and implications for the macroeconomy. We develop a Panel Vector Auto Regression model for Asia … a shadow interest rate estimated by Krippner (2013). We find that Asia and the Pacific region has responded to the …

Persistent link: https://www.econbiz.de/10011578404

Carry trades in Asia and the Pacific : evidence on unconventional monetary policies of advanced economies

Pornpinun Chantapacdepong; Ito, Hiroyuki; Hull, Kieran - 2017

unconventional monetary policy (UMP) affects the UIP relationship for 11 currencies in Asia and the Pacific. When we run the Fama …

Persistent link: https://www.econbiz.de/10011757991

The transmission of interest rates shocks to Asia : are effects different below the zero lower bound?

Feldkircher, Martin; Huber, Florian; Pornpinun … - 2017

We use a non-linear factor-augmented vector-autoregressive model to evaluate international effects of an unexpected decrease in euro area policy rates. Given the current environment of ultra low or negative interest rates, we especially focus on potential differences in the transmission of the...

Persistent link: https://www.econbiz.de/10011621228

Corporate market power and monetary policy transmission in Asia

Renzhi, Nuobu; Beirne, John - 2023

This paper empirically examines the effect of corporate market power on monetary policy transmission in Asia. Using …

Persistent link: https://www.econbiz.de/10014251068

Exchange rate pass-through in emerging Asia and exposure to external shocks

Beirne, John; Renzhi, Nuobu; Panthi, Pradeep - 2023

affect longer-term producer price ERPT in emerging Asia; and (v) US monetary policy and VIX shocks mostly affect longer …-term consumer price ERPT in emerging Asia. …

Persistent link: https://www.econbiz.de/10014290882