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Quantitative Easing and Macroeconomic Performance in the United States
Journal of Central Banking Theory and Practice Pub Date : 2022-09-23 , DOI: 10.2478/jcbtp-2022-0024
Inda Mulaahmetović 1
Affiliation  

This scientific paper examines the relationship between macroeconomic variables whose performance is measured under the implementation of Quantitative Easing in the US, by estimating vector autoregression (VAR) and Impulse Response Function with monthly data from US Federal Reserve, observed during the period January 1994-January 2022. Variables include: Consumer Price Index (CPIAUCSL); Industrial Production (INDPRO); Unemployment Rate (UNRATE); Interest Rates, Government Securities, Government Bonds (INTGSBUSM193N); Volatility Index (VIXCLS), Real Broad Effective Exchange Rate (RBUSBIS), Federal Surplus or Deficit (MTSDS133FMS), Money Supply M1 (WM1NS), M2 (WMNS), M3 (MABMM301USM189S). An evidence on macroeconomic variables of Consumer Price Index and Industrial Production when evaluating the effectiveness of QE is provided.

中文翻译:

美国的量化宽松政策和宏观经济表现

这篇科学论文通过使用美联储在 1994 年 1 月至 1 月期间观察到的月度数据估计向量自回归 (VAR) 和脉冲响应函数,研究了在美国实施量化宽松政策下衡量其表现的宏观经济变量之间的关系2022. 变量包括:消费者价格指数 (CPIAUCSL);工业生产(INDPRO);失业率 (UNRATE);利率、政府证券、政府债券 (INTGSBUSM193N);波动率指数 (VIXCLS)、实际广泛有效汇率 (RBUSBIS)、联邦盈余或赤字 (MTSDS133FMS)、货币供应量 M1 (WM1NS)、M2 (WMNS)、M3 (MABMM301USM189S)。提供了评估量化宽松政策有效性时消费者价格指数和工业生产等宏观经济变量的证据。
更新日期:2022-09-23
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