Effect of Recent U.S. Monetary Policy on the Balance of Trade. - Gli effetti della recente politica monetaria degli USA sulla bilancia dei pagamenti

Deergha Raj Adhikari Adhikari ()
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Deergha Raj Adhikari Adhikari: B. I. Moody - III College Of Business Administration, University Of Louisiana At Lafayette, Postal: University of Louisiana at Lafayette, 214 Hebrard Boulevard Lafayette LA 70504 U.S.A.,, http://www.louisiana.edu/

Economia Internazionale / International Economics, 2016, vol. 69, issue 1, 1-10

Abstract: Our study develops a model of the balance of trade, which is a function of domestic (U.S.) and foreign real GDPs, exchange rate of U.S. dollar , and monetary policy (credit easing) dummy. We then empirically test the model on a panel data for the U.S. and BRICS countries over the period, 1995-2014, and find that the Fed’s quantita tive easing has no effect, whatsoever, on U.S. balance of trade. - Il nostro studio sviluppa un modello di bilancia de i pagamenti in funzione del PIL reale interno ed estero, del tasso di cambio del dollaro USA e del credit easing . Successivamente effettuiamo test empirici sul modello tramite dati panel per gli USA e paesi BRIC nel periodo 1995-2014 e i risultati indicano che il quantitative easing della Federal Reserve non ha effetti di alcun genere sulla bilancia dei pagamenti USA.

Keywords: Quantitative Easing; Real GDP; Balance of Trade (search for similar items in EconPapers)
JEL-codes: F30 (search for similar items in EconPapers)
Date: 2016
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