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Macroeconomic implications for Hong Kong SAR of accommodative U.S. monetary policy /
This paper discusses the potential macroeconomic implications for Hong Kong SAR of accommodative monetary policy in the United States. It shows, through model simulations, that a resumption of the credit channel in Hong Kong SAR has the potential to create inflation in both goods and asset markets....
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2009.
|
| Colección: | IMF working paper ;
WP/09/256. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a N'Diaye, Papa M'B. P. |q (Papa M'Bagnick Paté), |e author. |1 https://id.oclc.org/worldcat/entity/E39PCjJf6XPP3cQbDpHgXhbcfq | |
| 245 | 1 | 0 | |a Macroeconomic implications for Hong Kong SAR of accommodative U.S. monetary policy / |c prepared by Papa N'Diaye. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2009. | ||
| 300 | |a 1 online resource (15 pages) : |b color illustrations | ||
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| 490 | 1 | |a IMF working paper ; |v WP/09/256 | |
| 504 | |a Includes bibliographical references (page 15). | ||
| 588 | 0 | |a Print version record. | |
| 520 | |a This paper discusses the potential macroeconomic implications for Hong Kong SAR of accommodative monetary policy in the United States. It shows, through model simulations, that a resumption of the credit channel in Hong Kong SAR has the potential to create inflation in both goods and asset markets. Expansionary financial conditions will likely have a greater impact in fueling asset price inflation, manifested in the model through a strong increase in equity prices. Higher asset prices could, in turn, through a financial accelerator mechanism, lead to further credit expansion and an upward cycle of asset prices and credit. This cycle, if unchecked, can potentially feed into volatility in consumption, output and employment and complicate macroeconomic management. The simulation results suggest there is a role for countercyclical prudential regulations to mitigate the amplitude of the cycle and lessen the financial and macroeconomic volatility associated with an unwinding of the credit-asset price cycle. | ||
| 505 | 0 | |a Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Implications for Hong Kong SAR of U.S. Monetary Policy; A. The Fed's Unconventional Monetary Policy Actions; B. Impact on Hong Kong SAR; III. A Simulation of Hong Kong SAR Asset and Goods Markets When Confronted by an Accommodative U.S. Monetary Stance; A. Model Overview; B. Model Simulations; IV. Conclusions; References; Footnotes. | |
| 506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
| 533 | |a Electronic reproduction. |b [Place of publication not identified]: |c HathiTrust Digital Library. |d 2024. |5 MiAaHDL | ||
| 538 | |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
| 583 | 1 | |a digitized |c 2024. |h HathiTrust Digital Library |l committed to preserve |2 pda |5 MiAaHDL | |
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 651 | 0 | |a Hong Kong (China) |x Economic conditions |x Econometric models. | |
| 651 | 0 | |a United States |x Foreign economic relations |z China |z Hong Kong. | |
| 651 | 0 | |a Hong Kong (China) |x Foreign economic relations |z United States. | |
| 650 | 7 | |a Economic history |2 fast | |
| 650 | 7 | |a International economic relations |2 fast | |
| 651 | 7 | |a China |z Hong Kong |2 fast |1 https://id.oclc.org/worldcat/entity/E39PBJvt6xv8pV6CJd3DMttxjC | |
| 651 | 7 | |a United States |2 fast |1 https://id.oclc.org/worldcat/entity/E39PBJtxgQXMWqmjMjjwXRHgrq | |
| 710 | 2 | |a International Monetary Fund. |b Asia and Pacific Department. | |
| 776 | 0 | 8 | |i Print version: |a Ndiaye, Papa. |t Macroeconomic implications for Hong Kong SAR of accommodative U.S. monetary policy. |d [Washington, D.C.] : International Monetary Fund, ©2009 |w (OCoLC)591363201 |
| 830 | 0 | |a IMF working paper ; |v WP/09/256. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1605978 |z Texto completo |
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