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After the oil crises in the 70's and at the beginning of the 80's, many authors argued that the FED's reaction to oil prices is not optimal and suggested to drop the energy component from the reaction function. This paper studies the period of 1987–2013 and shows that: (1) the FED responded to oil price inflation, (2) expansionary monetary policy fueled the surge in oil price only when it was accompanied...
In order to react to address the financial crisis, the Fed adopted the extraordinary quantitative easing monetary policy since the financial crisis. This paper analyzed the reasons of quantitative easing monetary policy in the United States, and how to impact on China○
Using a structural vector auto-regression (SVAR) model which contains four variables, the actual money supply, the real interest rate, the exchange rate and the real national income, to estimate the effect of china's monetary policy from 1995 to 2009. With the vector autoregressive analysis, Johansen Co-integration Test, Granger causality test and impulse response analysis based on China's quarterly...
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