The impact of Chinese monetary policy shocks on East and South‐East Asia1

Tomasz Koluk · Aaron N. Mehrotra

33 citations0/0 files storedEconomics of Transition

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Monetary Policy and Economic Impact Global Financial Crisis and Policies Market Dynamics and Volatility

Abstract

Abstract We study the effects of Chinese monetary policy shocks on China's major trading partners in East and South‐East Asia by estimating structural vector autoregressive (SVAR) models for six economies in the region. We find that a monetary expansion in Mainland China leads to an increase in real GDP (temporary) and the price level (permanent) in a number of economies in our sample, most notably in Hong Kong and the Philippines. The impact could result from intertemporal substitution present in a general equilibrium framework, which allows for positive domestic impacts of foreign monetary expansions. Our results emphasize the growing importance of China for its neighbouring economies and the significance of Chinese shocks for the design of monetary policy in Asian economies.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 33 citations exist upstream.

References

1983Staggered prices in a utility-maximizing framework 1996Staggered Prices in a Utility-Maximizing Framework 1999Chapter 2 Monetary policy shocks: What have we learned and to what end?1962Domestic Financial Policies Under Fixed and Under Floating Exchange Rates 1996What Does Monetary Policy Do?2000Exchange rate anomalies in the industrial countries: A solution with a structural VAR approach 1997Identifying monetary policy in a small open economy under flexible exchange rates 1997Topics in Structural VAR Econometrics

Cited by

2011The Transmission of Euro Area Monetary Shocks to the Czech Republic, Poland and Hungary: Evidence from a FAVAR Model 2012China’s Growing Influence in Southeast Asia – Monetary Policy and Equity Markets 2010China's Monetary Policy and the Exchange Rate 2014International transmission of monetary shocks to the Euro area: Evidence from the U.S., Japan and China 2011The international transmission of euro area monetary policy shocks

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.