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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...
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This study investigates the transmission mechanism of Chinese monetary policy shocks to other East Asian countries using a VAR model and focusing on their effects on the trade channel. The main empirical results are as follows. First, in response to Chinese expansionary monetary policy shocks,...
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This paper seeks to uncover the main drivers of credit growth in emerging Asia using a multi-country structural vector … that domestic factors are more dominant than external factors in driving rapid credit growth in emerging Asia. This is … autoregressive (SVAR) model. Taking a novel approach, we developed a two-block SVAR whereby shocks within blocks are identified using …
Persistent link: https://www.econbiz.de/10014396947
This paper seeks to uncover the main drivers of credit growth in emerging Asia using a multi-country structural vector … that domestic factors are more dominant than external factors in driving rapid credit growth in emerging Asia. This is … autoregressive (SVAR) model. Taking a novel approach, we developed a two-block SVAR whereby shocks within blocks are identified using …
Persistent link: https://www.econbiz.de/10013110096