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We use a Global VAR model to study spillovers from the Bank of Japan's quantitative and qualitative easing (QQE) on … emerging Asia. 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/10012977736
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
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
The global economy continued to recover in the winter semester, despite the number of new infections with the coronavirus rising sharply and containment measures tightened again in many countries. Industrial production and world trade have already fully catched up with activity levels before the...
Persistent link: https://www.econbiz.de/10012590089
Global growth has decelerated over the course of the year under the impact of high energy prices and great uncertainty. Monetary policy, which is being tightened very quickly in view of high inflationary pressure across the board, is now also putting a drag on economic activity. Overall,...
Persistent link: https://www.econbiz.de/10013539196
Persistent link: https://www.econbiz.de/10003785168
Persistent link: https://www.econbiz.de/10003850606
Using the "trilemma indexes" developed by Aizenman et al. (2008) that measure the extent of achievement in each of the three policy goals in the trilemma - monetary independence, exchange rate stability, and financial openness - this paper examines how policy configurations affect macroeconomic...
Persistent link: https://www.econbiz.de/10003913743
Persistent link: https://www.econbiz.de/10003973954
In the wake of the 1997-98 financial crises, interest rates in Asia were raised immediately, and then reduced sharply …
Persistent link: https://www.econbiz.de/10003508782