@article{Khatiwada:294962,
      recid = {294962},
      author = {Khatiwada, Sameer},
      title = {Quantitative easing by the Fed and international capital  flows},
      publisher = {The Graduate Institute, International Economics  Department},
      address = {Geneva. 2017},
      number = {BOOK},
      series = {Graduate Institute of International and Development  Studies Working Paper ; no. 02/2017},
      pages = {47 p. : ill.},
      year = {2017},
      abstract = {By employing a novel dataset on international capital  flows, this paper examines the impact of Fed's quantitative  easing (QE) policies on flows to emerging markets economies  (EMEs) and the EU countries. Episodes of QE are examined  separately, with the last episode divided between pre- and  post-tapering. We find evidence that QE was associated with  an increase in capital inflow, while tapering was  associated with a period of retrenchment. The magnitude of  the impact varied by different episodes of QE and the types  of assets (bonds or equities). Our results show that the EU  countries behaved differently than the EMEs. We also find  support for the importance of "pull factors" and individual  country characteristics for capital inflows. However, the  paper shows that episodes of QE accounted for most of the  variation in capital inflows during 2008-2014. G20  statements during the episodes of QE show that countries  are increasingly cognizant of their inability to control  flows and have thus called for better monetary policy  coordination to avoid excessive volatility and negative  spillovers.},
      url = {http://repository.graduateinstitute.ch/record/294962},
      doi = {https://doi.org/10.71609/iheid-ynxq-bx89},
}