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  1. Direct and spillover effects of unconventional monetary and exchange rate policies
    Published: March 2017
    Publisher:  International Monetary Fund, [Washington, D.C.]

    This paper explores the effects of unconventional monetary and exchange rate policies. We find that official foreign asset purchases have large effects on current accounts that diminish as capital mobility rises and spill over to financially... more

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    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
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    This paper explores the effects of unconventional monetary and exchange rate policies. We find that official foreign asset purchases have large effects on current accounts that diminish as capital mobility rises and spill over to financially integrated countries. There is an additional effect through the stock of central bank assets. Domestic asset purchases have an effect on current accounts only when capital mobility is low. We also find that rising US bond yields drive foreign yields, stock prices and depreciations, but less so on days of policy announcements. We develop a theoretical model that is broadly consistent with our results

     

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    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781475586237
    Other identifier:
    Series: IMF working paper ; WP/17, 56
    Subjects: Spillover-Effekt; Geldpolitik; Wechselkurspolitik
    Scope: 1 Online-Ressource (circa 53 Seiten), Illustrationen
  2. Direct and spillover effects of unconventional monetary and exchange rate policies
    Published: March 2017
    Publisher:  International Monetary Fund, [Washington, D.C.]

    This paper explores the effects of unconventional monetary and exchange rate policies. We find that official foreign asset purchases have large effects on current accounts that diminish as capital mobility rises and spill over to financially... more

    Access:
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    This paper explores the effects of unconventional monetary and exchange rate policies. We find that official foreign asset purchases have large effects on current accounts that diminish as capital mobility rises and spill over to financially integrated countries. There is an additional effect through the stock of central bank assets. Domestic asset purchases have an effect on current accounts only when capital mobility is low. We also find that rising US bond yields drive foreign yields, stock prices and depreciations, but less so on days of policy announcements. We develop a theoretical model that is broadly consistent with our results

     

    Export to reference management software   RIS file
      BibTeX file
    Content information
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781475586237
    Other identifier:
    Series: IMF working paper ; WP/17, 56
    Subjects: Spillover-Effekt; Geldpolitik; Wechselkurspolitik
    Scope: 1 Online-Ressource (circa 53 Seiten), Illustrationen