Macroeconomic implications for Hong Kong SAR of accommodative U.S. monetary policy : Papa N'Diaye.

Macroeconomic implications for Hong Kong SAR of accommodative U.S. monetary policy : Papa N'Diaye.

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Bibliographic Details
Author / Creator:N'Diaye, Papa M'B. P. (Papa M'Bagnick PateĢ)
Imprint:[Washington, D.C.] : International Monetary Fund, 2009.
Description:1 online resource (30 p.).
Language:English
Series:IMF working paper ; WP/09/256
IMF working paper ; WP/09/256.
Subject:
Monetary policy -- United States.
Economics -- China -- Hong Kong.
Economics.
Monetary policy.
China -- Hong Kong.
United States.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/13518562
Hidden Bibliographic Details
Other authors / contributors:International Monetary Fund.
ISBN:1462331548
9781462331543
9786612844508
6612844507
1452733910
9781452733913
1451874022
9781451874020
1282844504
9781282844506
Notes:Description based upon print version of record.
Includes bibliographical references.
English.
Summary:This paper discusses the potential macroeconomic implications for Hong Kong SAR of accommodative monetary policy in the United States. It shows, through model simulations, that a resumption of the credit channel in Hong Kong SAR has the potential to create inflation in both goods and asset markets. Expansionary financial conditions will likely have a greater impact in fueling asset price inflation, manifested in the model through a strong increase in equity prices. Higher asset prices could, in turn, through a financial accelerator mechanism, lead to further credit expansion and an upward cycl.
Other form:1-4519-1817-8

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