000294962 001__ 294962
000294962 005__ 20250213113210.0
000294962 0247_ $$2doi$$a10.71609/iheid-ynxq-bx89
000294962 037__ $$aBOOK
000294962 245__ $$aQuantitative easing by the Fed and international capital flows
000294962 260__ $$aGeneva$$bThe Graduate Institute, International Economics Department$$c2017
000294962 269__ $$a2017
000294962 300__ $$a47 p. : ill.
000294962 336__ $$aPapers and Reports
000294962 490__ $$aGraduate Institute of International and Development Studies Working Paper ; no. 02/2017
000294962 520__ $$aBy 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.
000294962 700__ $$aKhatiwada, Sameer
000294962 8564_ $$9fee3bc21-bd12-4e15-8e28-03beba728fd6$$s1419508$$uhttps://repository.graduateinstitute.ch/record/294962/files/HEIDWP02-2017.pdf
000294962 8564_ $$9e69fa037-30e9-4a20-b282-5073c7644eab$$xpdfa$$s2776603$$uhttps://repository.graduateinstitute.ch/record/294962/files/HEIDWP02-2017.pdf?subformat=pdfa
000294962 901__ $$uInternational Economics Department$$0319285
000294962 909CO $$ooai:repository.graduateinstitute.ch:294962$$pGLOBAL_SET$$pIHEID:Explore
000294962 937__ $$aWP-2017-062
000294962 980__ $$aWP