Spillovers of the Conventional and Unconventional Monetary Policy from the US to South Africa

Kabundi, Alain; Loate, Tumisang; Viegi, Nicola

doi:10.1111/saje.12262

Cited by 7 publications

(4 citation statements)

References 42 publications

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“…The study by (Hoek et al, 2022) discovered that the United States' interest rate policy disrupted the economic progress of developing countries. Similar findings were produced by (Aizenman et al, 2020;Kabundi et al, 2020;Kolasa and Wesołowski, 2020;MacDonald and Popiel, 2020;Trung, 2019), which demonstrated that the US Tapering off policy caused financial spillovers to economic growth in emerging nations. According to the study (Georgiadis and Schumann, 2021), the United States' change in export and import caused spillover effects.…”

Section: Introductionsupporting

confidence: 70%

The Economic Impact of the US Unconventional Monetary Policy, Global Commodity Shocks, and Oil Price Shocks on ASEAN 3

Rifa'i

2023

IJEEP

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This study examines the implications of the United States unconventional monetary policy, global commodity prices, and the oil price shock on monetary policy responses and economic growth in the ASEAN 3 countries of Indonesia, Malaysia, and the Philippines. The empirical evidence suggests that the shock from the United States unconventional monetary policy led to the change in ASEAN's monetary policy. The fluctuation of crude oil and global commodity prices considerably impacts ASEAN's monetary policy response 3. The Central Bank can use such evidence as a reference to alter monetary policy in reaction to the global oil price and the unconventional monetary policy of the United States. The government will also be able to foresee the impact of global oil and commodities prices and preserve ASEAN 3's economic growth.

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Section: Introductionsupporting

confidence: 70%

The Economic Impact of the US Unconventional Monetary Policy, Global Commodity Shocks, and Oil Price Shocks on ASEAN 3

Rifa'i

2023

IJEEP

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“…Dedola et al and Degasperi et al studied 36 and 30 foreign economies respectively, and concluded that output and industrial production in both developed and emerging economies would decline after the tight US monetary policy [1,2]. Some researches, however, revealed the diverse responses of output in OECD countries [3], or even the different responses of output in the same country to conventional and unconventional expansionary US monetary policy [4]. Yet Willems argued that US monetary policy had no significant impact on the output of dollarized countries [5].…”

Section: Literature Reviewmentioning

confidence: 99%

The Spillover Effects of U.S. Monetary Policy on Global Economy

Geng¹,

Lu²

2021

Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)

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This paper uses VAR model and select total assets of Federal Reserve, CPI, total manufacturing/industrial production, REER (real broad effective exchange rate adjusted by relative consumer prices), net exports and 3-month interbank rate as indicators to measure the impact of the US monetary policy on China, Japan, EU Area and Canada. There are several key findings. Firstly, US monetary policy shock has spillover effects on the national production, consuming price and central bank action. Secondly, the change of the value of US dollar does not have significant effect on exchange rate for China, EU Area and Japan due to the adoption of flexible exchange rate, while there is significant change in Canada. Thirdly, the monetary policy shock from US is not transmitted to national trade. Finally, the decline of real effective exchange rate in the short-run shows the increasing external competitiveness.

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“…The impulse responses are calculated using a medium scale Bayesian VAR model as in Kabundi et al (2020). The model consists of 20 variables.…”

Section: Monetary Policy and Credit Conditionsmentioning

confidence: 99%

Building back fairer from the Covid-19 pandemic in South Africa: Some first step reforms in an era of fiscal constraints

Arndt¹,

Davies²,

Gabriel³

et al. 2021

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As the chapters in this book demonstrate, many economic policy choices entail trade-offs, in which some group experiences a short-term loss in order for others, or the country as a whole, to benefit. In South Africa's case, many of the trade-offs needed most urgently to create growth will on balance benefit poorer households. 8The increasing convergence of inflation expectations to the inflation target and an increase in the credibility of the SARB is consistently shown across the literature (Miyajima and Yetman 2018; Kabundi and Mlachila 2018; Chen and Creamer 2019).

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Spillovers of the Conventional and Unconventional Monetary Policy from the US to South Africa

Cited by 7 publications

References 42 publications

The Economic Impact of the US Unconventional Monetary Policy, Global Commodity Shocks, and Oil Price Shocks on ASEAN 3

The Economic Impact of the US Unconventional Monetary Policy, Global Commodity Shocks, and Oil Price Shocks on ASEAN 3

The Spillover Effects of U.S. Monetary Policy on Global Economy

Building back fairer from the Covid-19 pandemic in South Africa: Some first step reforms in an era of fiscal constraints

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