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Direct and Spillover Effects of Unconventional Monetary and Exchange Rate Policies

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Description: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.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Direct and Spillover Effects of Unconventional Monetary and Exchange Rate Policies. To get started finding Direct and Spillover Effects of Unconventional Monetary and Exchange Rate Policies, you are right to find our website which has a comprehensive collection of manuals listed.
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Format: PDF, EPUB & Kindle Edition

Publisher: International Monetary Fund

Release: 2017

ISBN: 1475587015

Description: 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.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Direct and Spillover Effects of Unconventional Monetary and Exchange Rate Policies. To get started finding Direct and Spillover Effects of Unconventional Monetary and Exchange Rate Policies, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

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Direct and Spillover Effects of Unconventional Monetary and Exchange Rate Policies

Direct and Spillover Effects of Unconventional Monetary and Exchange Rate Policies

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