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Impact of US quantitative easing policy on emerging Asia
Morgan, Peter J. - 2011
The adoption of quantitative easing (QE) policy by the United States (US) Federal Reserve Bank since early 2009 has aroused widespread concerns in Asia and elsewhere regarding its possible impact in terms of the weakening of the US dollar and stimulating capital outflows to emerging economies...
Persistent link: https://www.econbiz.de/10009379704
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Monetary Policy in Hybrid Regimes : The Case of Kazakhstan
Epstein, Natan P. - 2014
signal the stance of policy, reflected in a weak transmission from the policy rate to money market interest rates. With the … use of a stylized model, the paper studies the macro determinants of money market interest rates under the current … the implications of varying degrees of exchange rate flexibility for interest rate policy and open market operations …
Persistent link: https://www.econbiz.de/10013050674
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Monetary Policy without Moving Interest Rates : The Fed Non-Yield Shock
Boehm, Christoph E.; Kroner, T. Niklas - National Bureau of Economic Research - 2024
Existing high-frequency monetary policy shocks explain surprisingly little variation in stock prices and exchange rates around FOMC announcements. Further, both of these asset classes display heightened volatility relative to non-announcement times. We use a heteroskedasticity-based procedure to...
Persistent link: https://www.econbiz.de/10014576665
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Interest rate and exchange rate volatility spillovers : multiscale perspective of monetary policy transmission in Ghana
Akosah, Nana Kwame; Alagidede, Paul; Schaling, Eric - In: Journal of central banking theory and practice 9 (2020) 1, pp. 135-167
Persistent link: https://www.econbiz.de/10012167220
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The diminishing impact of monetary policy on asset prices around non-FOMC macroeconomic announcements
Alam, Zohair - 2021
monetary policies deter market's ability to anticipate Fed actions, which has implications for its transmission to asset prices …
Persistent link: https://www.econbiz.de/10012595426
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Inflation Targeting in Colombia, 2002-2012
Urrutia, Miguel; Hofstetter Gascón, Marcel; Hamann S., … - 2014
After decades using monetary aggregates as the main instrument of monetary policy and having different varieties of crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as the nominal anchor, a floating exchange rate, and the...
Persistent link: https://www.econbiz.de/10011314133
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Foreign exchange interventions at the zero lower bound in the Czech economy : a DSGE approach
Malovaná, Simona - 2015
The paper contributes to understanding the economic dynamics at the zero lower bound and the exchange rate movements under different central bank intervention regimes. It provides a theoretical framework for modeling foreign exchange interventions at the ZLB within a dynamic general equilibrium...
Persistent link: https://www.econbiz.de/10010532424
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Inflation targeting in Colombia, 2002 - 2012
Urrutia, Miguel; Hofstetter Gascón, Marcel; Hamann S., … - 2014
After decades using monetary aggregates as the main instrument of monetary policy and having different varieties of crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as the nominal anchor, a floating exchange rate, and the...
Persistent link: https://www.econbiz.de/10011285649
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Monetary Policy and Currency Returns : The Foresight Saga
Borisenko, Dmitry - 2017
We document a drift in exchange rates before monetary policy changes across major economies. Currencies tend to depreciate by 0.7 percent over ten days before policy rate cuts and appreciate by 0.5 percent before policy rate increases. We show that available fixed income instruments allow to...
Persistent link: https://www.econbiz.de/10012954654
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Monetary Policy Surprises and Exchange Rate Behavior
Gürkaynak, Refet S. - 2020
Central banks unexpectedly tightening policy rates often observe the exchange value of their currency depreciate, rather than appreciate as predicted by standard models. We document this for Fed and ECB policy days using eventstudies and ask whether an information effect, where the public...
Persistent link: https://www.econbiz.de/10012822502