Author: Reuven GlickPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
The Effects of Unconventional and Conventional U.S. Monetary Policy on the Dollar
Author: Reuven GlickDilemmas of the Dollar
Author: C. Fred BergstenPublisher: Routledge
ISBN: 1315491079
Category : Business & Economics
Languages : en
Pages : 476
Book Description
An examination of the role of the dollar in the global financial system which presents a long-term historical perspective on the international monetary system in this century. The main focus is on the evaluation of the global financial system in the post-war period.
Dilemmas of the Dollar
Author: C. Fred BergstenPublisher: M.E. Sharpe
ISBN: 9780873326001
Category : Business & Economics
Languages : en
Pages : 620
Book Description
An examination of the role of the dollar in the global financial system which presents a long-term historical perspective on the international monetary system in this century. The main focus is on the evaluation of the global financial system in the post-war period.
Unconventional Monetary Policy and the Dollar
Author: Reuven GlickUnconventional Monetary Policy Had Large International Effects
Author: Christopher J. NeelyPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
The Federal Reserve's unconventional monetary policy announcements in 2008-2009 substantially reduced international long-term bond yields and the spot value of the dollar. These changes closely followed announcements and were very unlikely to have occurred by chance. A simple portfolio choice model can produce quantitatively plausible changes in U.S. and foreign excess bond yields. The jump depreciations of the USD are fairly consistent with estimates of the impacts of previous equivalent monetary policy shocks. The policy announcements do not appear to have reduced yields by reducing expectations of real growth. Unconventional policy can reduce international long-term yields and the value of the dollar even at the zero bound.
The Effects of U.S. Unconventional Monetary Policy on Asia Frontier Developing Economies
Author: Mr.Sohrab RafiqPublisher: International Monetary Fund
ISBN: 1484367987
Category : Business & Economics
Languages : en
Pages : 30
Book Description
This paper explores the effect of U.S. unconventional monetary policy (QE2) on a group of frontier developing economies (FDEs) in Asia. This paper finds that spillovers emanating from the U.S. on FDEs in Asia have been small. The relative insulation of emerging Asia from the global financial cycle can likely be attributed to the presence of managed capital accounts coupled with shallow financial markets. Should U.S. monetary policy begin to normalize the direct first-round impact on developing Asia is likely to be small.
The Future of the Dollar
Author: Eric HelleinerPublisher: Cornell University Press
ISBN: 0801458730
Category : Political Science
Languages : en
Pages : 272
Book Description
For half a century, the United States has garnered substantial political and economic benefits as a result of the dollar's de facto role as a global currency. In recent years, however, the dollar's preponderant position in world markets has come under challenge. The dollar has been more volatile than ever against foreign currencies, and various nations have switched to non-dollar instruments in their transactions. China and the Arab Gulf states continue to hold massive amounts of U.S. government obligations, in effect subsidizing U.S. current account deficits, and those holdings are a point of potential vulnerability for American policy. What is the future of the U.S. dollar as an international currency? Will predictions of its demise end up just as inaccurate as those that have accompanied major international financial crises since the early 1970s? Analysts disagree, often profoundly, in their answers to these questions. In The Future of the Dollar, leading scholars of dollar's international role bring multidisciplinary perspectives and a range of contrasting predictions to the question of the dollar's future. This timely book provides readers with a clear sense of why such disagreements exist and it outlines a variety of future scenarios and the possible political implications for the United States and the world.
Unconventional Monetary Policy and the Dollar
Author: Reuven GlickFinancial Crisis, US Unconventional Monetary Policy and International Spillovers
Author: Qianying ChenPublisher: International Monetary Fund
ISBN: 148434071X
Category : Business & Economics
Languages : en
Pages : 32
Book Description
We study the impact of the US quantitative easing (QE) on both the emerging and advanced economies, estimating a global vector error-correction model (GVECM) and conducting counterfactual analyses. We focus on the effects of reductions in the US term and corporate spreads. First, US QE measures reducing the US corporate spread appear to be more important than lowering the US term spread. Second, US QE measures might have prevented episodes of prolonged recession and deflation in the advanced economies. Third, the estimated effects on the emerging economies have been diverse but often larger than those recorded in the US and other advanced economies. The heterogeneous effects from US QE measures indicate unevenly distributed benefits and costs.
Author: Mark Carlson