Series: IMF Working Papers
Author(s): Qianying Chen , Andrew Filardo , Dong He , and Feng Zhu
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 29 April 2015
Keywords: emerging economies, global VAR, international monetary policy spillovers, quantitative easing, unconventional monetary policy, federal reserve, securities, reserve, Financial Markets and the Macroeconomy, Monetary Policy (Targets
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...