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| 1 |
ID:
187878
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| Summary/Abstract |
This paper develops a novel while plausible way to model the Chinese monetary transmission via open market operations (OMOs). In the model, monetary injections through OMOs, together with differentiated collateral regulation in the banking sector, directly affect banks' loan capacities, which then influence sectoral investments and aggregate GDP. The quantitative analysis shows that the 2009–2010 monetary expansion explains nearly 66% of the rise in GDP growth. Moreover, balancing credit allocation across sectors and applying unified banking regulations jointly enhance the GDP growth rate by 1.65 percentage points, with the contribution of the unified banking regulations proving more important.
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| 2 |
ID:
129479
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| Publication |
2013.
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| Summary/Abstract |
In general, 2013 has highlighted the vulnerability of Indonesian economy. Economic growth is slower than anticipated, while in?ation has elevated, on the back of a sharp increase in fuel prices. Moreover, as prices of export commodities remained drops and the non-resident investors reduced their holdings in emerging markets, including Indonesia, in the expectation that the US would reduce its monetary stimulus, the external accounts deteriorated in the first three quarters, partly contributing to a fall in the rupiah and local stocks. Meanwhile, steps to tighten monetary policy taken to address inflation and the current account deficits are expected to restrain growth in the near term.
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