國立虎尾科技大學 |

Monetary Policy Spillovers through Invoicing Currencies.

紀錄類型:	書目-語言資料,手稿 : Monograph/item
正題名/作者:	Monetary Policy Spillovers through Invoicing Currencies./
作者:	Zhang, Weiting.
面頁冊數:	1 online resource (86 pages)
附註:	Source: Dissertation Abstracts International, Volume: 79-11(E), Section: A.
Contained By:	Dissertation Abstracts International79-11A(E).
標題:	Economics. -
電子資源:	click for full text (PQDT)
ISBN:	9780438088184

Monetary Policy Spillovers through Invoicing Currencies.
Zhang, Weiting.

Monetary Policy Spillovers through Invoicing Currencies. - 1 online resource (86 pages)

Source: Dissertation Abstracts International, Volume: 79-11(E), Section: A.

Thesis (Ph.D.)--The University of Chicago, 2018.

Includes bibliographical references

United States monetary policy affects macro-financial outcomes globally. I introduce heterogeneity in invoicing currencies into an open economy New Keynesian model that also allows for differences in country size and household preferences. Within the model, cross-sectional variation in U.S. monetary policy spillover effects is fully captured by heterogeneity in countries' shares of dollar invoiced trade. Moreover, central banks of countries in which a larger share of exports are invoiced in dollars face a worse output-inflation trade-off, i.e., a steeper Phillips Curve. Using high frequency measures of monetary policy shocks, I find support for the model's predictions. Countries' shares of dollar invoiced trade explain cross-sectional heterogeneity in spillovers from U.S. monetary policy shocks onto foreign exchange rates, interest rates and industrial production. Constructing a new data set of monetary policy shocks emanating from the European Central Bank, the Bank of Japan and the Bank of England, I show currency invoicing explains variation in monetary policy spillovers from these other central banks as well. After controlling for currency invoicing in trade, the magnitude of U.S. monetary policy spillovers are not significantly different from those of other central banks.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9780438088184Subjects--Topical Terms:

555568
Economics.
Index Terms--Genre/Form:

554714
Electronic books.

Monetary Policy Spillovers through Invoicing Currencies.
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245 1 0 $a Monetary Policy Spillovers through Invoicing Currencies.
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500 $a Source: Dissertation Abstracts International, Volume: 79-11(E), Section: A.
500 $a Adviser: Tarek A. Hassan.
502 $a Thesis (Ph.D.)--The University of Chicago, 2018.
504 $a Includes bibliographical references
520 $a United States monetary policy affects macro-financial outcomes globally. I introduce heterogeneity in invoicing currencies into an open economy New Keynesian model that also allows for differences in country size and household preferences. Within the model, cross-sectional variation in U.S. monetary policy spillover effects is fully captured by heterogeneity in countries' shares of dollar invoiced trade. Moreover, central banks of countries in which a larger share of exports are invoiced in dollars face a worse output-inflation trade-off, i.e., a steeper Phillips Curve. Using high frequency measures of monetary policy shocks, I find support for the model's predictions. Countries' shares of dollar invoiced trade explain cross-sectional heterogeneity in spillovers from U.S. monetary policy shocks onto foreign exchange rates, interest rates and industrial production. Constructing a new data set of monetary policy shocks emanating from the European Central Bank, the Bank of Japan and the Bank of England, I show currency invoicing explains variation in monetary policy spillovers from these other central banks as well. After controlling for currency invoicing in trade, the magnitude of U.S. monetary policy spillovers are not significantly different from those of other central banks.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Economics. $3 555568
655 7 $a Electronic books. $2 local $3 554714
690 $a 0501
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a The University of Chicago. $b Business and Economics. $3 1193066
773 0 $t Dissertation Abstracts International $g 79-11A(E).
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10809908 $z click for full text (PQDT)