scholarly journals Macroeconomic Analysis of China, Japan and the United States Based on Exchange Rate Spillover Effects of Economic Policies

2018 ◽  
Keyword(s):  
United States ◽  
Exchange Rate ◽  
Spillover Effects ◽  
The United States ◽  
Economic Policies ◽  
Macroeconomic Analysis

scholarly journals The Renminbi Exchange Rate Reform and Its Implications for Asian Markets

2016 ◽  
Vol 02 (04) ◽  
pp. 485-506 ◽  
Author(s):  
Takamoto Suzuki
Keyword(s):  
United States ◽  
Exchange Rate ◽  
Emerging Economies ◽  
The United States ◽  
Economic Policies ◽  
Macroeconomic Policies ◽  
Monetary Policies ◽  
Special Drawing ◽  
The Stability ◽  
The U.S

Up until now, the Renminbi (RMB) reform has been progressing gradually. With the RMB becoming a Special Drawing Right (SDR) component currency, China’s monetary policies will exert significant influence on the international marketplace. The year 2014 witnessed the weakening of the RMB against the U.S. dollar, yet thanks to China’s prudent economic policies, the RMB stopped depreciating further and remained quite stable for the first half of 2015, which benefited not only China itself, but also the United States, Japan, and other Asian economies. Asian markets used to be strongly influenced by the U.S. monetary policy and the performance of the U.S. dollar. However, since the RMB devaluation against U.S. dollar in the summer of 2015, Asian markets have been inclined to move in accordance with the market information from China rather than that from the United States. Although the RMB is not a currency like the euro that has been adopted by a number of countries, it can still exert great impacts on emerging economies in the world. For the RMB to take hold globally, improved fundamentals in emerging economies, an easing in the influence of the RMB-USD exchange rate, and a healthy financial system in China are all necessary. Meanwhile, both China and the United States need to enhance their coordination on macroeconomic policies and guarantee the stability of RMB-USD exchange rate.

International Spillover of Risk and Return among Major Banking Institutions: A Bivariate GARCH Model

2003 ◽  
Vol 18 (2) ◽  
pp. 303-330 ◽  
Author(s):  
Elyas Elyasiani ◽  
Iqbal Mansur
Keyword(s):  
United States ◽  
Exchange Rate ◽  
Interest Rate ◽  
Financial Stability ◽  
Spillover Effects ◽  
The United States ◽  
Leadership Role ◽  
International Portfolio Diversification ◽  
Interest Rate Volatility ◽  
Bank Stock

Using the bivariate GARCH methodology, this study examines bank stock sensitivities to market, interest rate, and exchange rate, and investigates the spillover effects of interest rate volatility and unsystematic risk among the banking sectors of the United States and Japan, and the United States and Germany. Empirical results show that return-generating processes of the banking sectors considered can be properly described by GARCH models. Within this framework, banks are found to be highly sensitive to macroeconomic shocks such as the exchange rate and interest rate, with the latter exerting its impact at the volatility level. Moreover, stock volatilities in the banking sectors of the three countries are found to be highly interdependent. The direction and magnitude of the effects from interest rate volatility and unsystematic shocks in one country on other countries are sensitive to the origin of the shock, with the United States playing a leadership role. The findings have serious implications on international financial stability, international portfolio diversification, and policy formulation by central banks and fiscal authorities.

scholarly journals Analisis Respon Pertumbuhan Ekonomi Indonesia Akibat External Shock Amerika Serikat dan China

2021 ◽  
Vol 8 (1) ◽  
pp. 20
Author(s):  
Alvin Sugeng Prasetyo ◽  
Mochamad Devis Susandika
Keyword(s):  
United States ◽  
Economic Growth ◽  
Exchange Rate ◽  
The United States ◽  
Economic Policies ◽  
External Shocks ◽  
The Us ◽  
Us Dollar ◽  
Better Than

The purpose of this study is to examine and analyze the response to Indonesia's economic growth caused by external shocks from the United States and China. The method used is VECM, because it is stationary at I (1) and there is cointegration. The estimation results show that the uncertainty of China's economic policies and the contribution of China's economic growth has a greater effect than the United States on Indonesia's economic growth. The shock of the rupiah exchange rate against the US dollar was better than the rupiah exchange rate against the RMB. The shock of changes in oil prices was responded negatively by changes in Indonesia's economic growth. In the long term, there are no signs of a movement in response to changes in Indonesia's economic growth towards equilibrium (convergence).  

Cuba: From “Dollarization” to “Euroization” or “Peso Reconsolidation”?

2002 ◽  
Vol 44 (2) ◽  
pp. 99-123
Author(s):  
Archibald R. M. Ritter ◽  
Nicholas Rowe
Keyword(s):  
United States ◽  
Exchange Rate ◽  
Money Supply ◽  
Economic Structure ◽  
The United States ◽  
Significant Component ◽  
Cuban Government ◽  
The U.S

AbstractSince its “depenalization” in 1993, the U.S. dollar has become possibly a more significant component of Cuba's money supply than the old peso. What are the alternatives? The euro seems inappropriate, given the inevitability of eventual normalization of relations with the United States. More advantageous would be to restore the Cuban peso, though this would involve unifying the bifurcated economic structure and the dual monetary and exchange rate systems. The Cuban government has yet to announce its plans. This study argues that an appropriate mix of exchange rate, monetary, fiscal, and income or wage and salary policies should support a rehabilitation of the Cuban peso.

The Clinton Administration and Africa: A View from Gaborone, Botswana

1998 ◽  
Vol 26 (2) ◽  
pp. 64-69
Author(s):  
Larry A. Swatuk
Keyword(s):  
United States ◽  
Southern Africa ◽  
Clinton Administration ◽  
The United States ◽  
Bill Clinton ◽  
Crisis Response ◽  
Economic Policies ◽  
Material World ◽  
Existing Problems ◽  
The World

With fanfare befitting the arrival of a god of the Western material world, U.S. President Bill Clinton toured Southern Africa imparting “words of wisdom” along the way. His aim, we were told, was to see that the United States becomes Africa’s “true partner.” The reason being, according to Clinton, “[a]s Africa grows strong, America grows stronger ... Yes, Africa needs the world, but more than ever it is equally true that the world needs Africa.” To this end, the United States would pursue a mix of political and economic policies that included the African Crisis Response Initiative and the Africa Growth and Opportunity Act, both designed to foster “stability” and “prosperity” on the continent. Lofty goals, to be sure, but ends whose means are badly in need of interrogation. This article does just that: To wit, does Clinton, on behalf of U.S. policymakers, mean what he says? If so, in naming “peace” and “prosperity,” can he make them? Put differently, does the Clinton administration have the power to introduce order where there was chaos? Or will it only compound existing problems and visit new ones upon those who had few to begin with?

scholarly journals Taking the Cloth: How Religious Appeals Increase Compliance with COVID-19 Prevention Measures

2021 ◽  
Author(s):  
Claire Adida ◽  
Christina Cottiero ◽  
Leonardo Falabella ◽  
Isabel Gotti ◽  
Syeda ShahBano Ijaz ◽  
...  
Keyword(s):  
Public Health ◽  
United States ◽  
Social Norms ◽  
Social Identity Theory ◽  
Spillover Effects ◽  
The United States ◽  
Viral Transmission ◽  
Prevention Measures ◽  
Prevention Measure ◽  
Prevention Guidelines

During the COVID-19 pandemic, face masks have been recommended by the CDC and the WHO as key to reducing viral transmission. Yet, in the United States, one fifth of individuals say they wear masks at most some of the time, and a majority say that people in their community wear masks at most some of the time. What strategies most effectively encourage compliance with this critical covid-19 prevention measure? Relying on social identity theory, we experimentally assess two possible mechanisms of compliance, elite endorsement and social norms, among a representative sample of White U.S.–born Evangelicals, a group that has shown resistance to prevention measures. We find evidence for both mechanisms, but social norms play a remarkably important role – increasing support for mask-wearing by 6% with spillover effects on other prevention guidelines. Our findings confirm the role that appeals to norms and elite endorsements play in shaping individual behavior, and offer lessons for public health messaging.

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