Monetary policy spill-over from advanced market economies to emerging market economies

This paper assesses the monetary policy spill-overs from the Advanced Market Econ-omies (AMEs) to the Emerging Market Economies (EMEs) by using linear regression models to estimate the association between the monthly changes in excess money supply in ten representative EMEs and the four largest AMEs...

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Bibliografiset tiedot
Päätekijä: Do, Linh
Muut tekijät: Kauppakorkeakoulu, School of Business and Economics, Taloustieteet, Business and Economics, Jyväskylän yliopisto, University of Jyväskylä
Aineistotyyppi: Pro gradu
Kieli:eng
Julkaistu: 2019
Aiheet:
Linkit: https://jyx.jyu.fi/handle/123456789/64889
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author Do, Linh
author2 Kauppakorkeakoulu School of Business and Economics Taloustieteet Business and Economics Jyväskylän yliopisto University of Jyväskylä
author_facet Do, Linh Kauppakorkeakoulu School of Business and Economics Taloustieteet Business and Economics Jyväskylän yliopisto University of Jyväskylä Do, Linh Kauppakorkeakoulu School of Business and Economics Taloustieteet Business and Economics Jyväskylän yliopisto University of Jyväskylä
author_sort Do, Linh
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description This paper assesses the monetary policy spill-overs from the Advanced Market Econ-omies (AMEs) to the Emerging Market Economies (EMEs) by using linear regression models to estimate the association between the monthly changes in excess money supply in ten representative EMEs and the four largest AMEs which are the US, EMU, UK and Japan. The models estimated the different impacts of each AMEs on the EMEs and considered the role of unconventional monetary policy on the spill-overs. Moreo-ver, the economic-condition differences among the EMEs were also studied to analyze their heterogenous responses to shocks from the AMEs. We found that, there were significant spill-overs from the AMEs to EMEs, with the largest impact caused by the US, and the amplified effects from both QE and tapering events. Finally, countries with relatively lower financial development, financial openness and degree of exchange rate flexibility experienced larger monetary policy spill-over influences from the AMEs.
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spellingShingle Do, Linh Monetary policy spill-over from advanced market economies to emerging market economies capital flows quantitative easing tapering advanced market economies emerging market economies financial development financial openness exchange rate regime Taloustiede Economics 2041 rahapolitiikka markkinatalous rahoitusmarkkinat monetary policy market economy financial markets
title Monetary policy spill-over from advanced market economies to emerging market economies
title_full Monetary policy spill-over from advanced market economies to emerging market economies
title_fullStr Monetary policy spill-over from advanced market economies to emerging market economies Monetary policy spill-over from advanced market economies to emerging market economies
title_full_unstemmed Monetary policy spill-over from advanced market economies to emerging market economies Monetary policy spill-over from advanced market economies to emerging market economies
title_short Monetary policy spill-over from advanced market economies to emerging market economies
title_sort monetary policy spill over from advanced market economies to emerging market economies
title_txtP Monetary policy spill-over from advanced market economies to emerging market economies
topic capital flows quantitative easing tapering advanced market economies emerging market economies financial development financial openness exchange rate regime Taloustiede Economics 2041 rahapolitiikka markkinatalous rahoitusmarkkinat monetary policy market economy financial markets
topic_facet 2041 Economics Taloustiede advanced market economies capital flows emerging market economies exchange rate regime financial development financial markets financial openness market economy markkinatalous monetary policy quantitative easing rahapolitiikka rahoitusmarkkinat tapering
url https://jyx.jyu.fi/handle/123456789/64889 http://www.urn.fi/URN:NBN:fi:jyu-201906273492
work_keys_str_mv AT dolinh monetarypolicyspilloverfromadvancedmarketeconomiestoemergingmarketeconomies