Quantitative easing monetary policy exit and Chinese entity economy development

Ji-gang, LI; Chao, Pan

doi:10.2495/mesi140771

Cited by 1 publication

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“…Li believed that due to the upward pressure on the RMB exchange rate against the USD, it caused a depreciation of foreign exchange reserves and a decrease in the international trade surplus. In order to keep the value of the dollar reserves and maintain a stable exchange rate, the People's Bank of China must achieve these objectives by releasing currency, but this would inevitably lead to excess domestic liquidity and therefore inflation [20].…”

Section: Inflationmentioning

confidence: 99%

Spillover Effect of U.S. Quantitative Easing Policy on China’s Economy

Chang¹

2023

BCPBM

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In the context of economic globalization, the independence of monetary policy in each of the world's economies is declining. This is mostly demonstrated by the substantial economic spillovers that financial policy changes have on other countries' economies. The last two decades have witnessed a dramatic change in US monetary policy, which is the implementation and withdrawal of Quantitative Easing. The existing literature examining the spillover effects of US Quantitative Easing on the Chinese economy is mainly based on one specific channel. However, it lacks a complete framework of transmission channels. This paper reviews these findings and outlines a conceptual framework that unifies them. The framework comprehensively analyses the spillover effects of the US Quantitative Easing from three channels, which are the interest rate channel, trade channel and commodity price transmission channel. By analyzing its impact on China's economy in a comprehensive manner, it will help China's government better grasp the current international economic situation and better deal with the shocks to China's economic growth caused by changes in the monetary policies of other countries.

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Section: Inflationmentioning

confidence: 99%

Spillover Effect of U.S. Quantitative Easing Policy on China’s Economy

Chang¹

2023

BCPBM

View full text Add to dashboard Cite

show abstract

Quantitative easing monetary policy exit and Chinese entity economy development

Cited by 1 publication

References 0 publications

Spillover Effect of U.S. Quantitative Easing Policy on China’s Economy

Spillover Effect of U.S. Quantitative Easing Policy on China’s Economy

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