Global S&T Development Trend Analysis Platform of Resources and Environment
Long-Term Interest Rate Spillovers from Major Developed Economies to Emerging Asia | |
[unavailable] | |
2017-03-30 | |
出版年 | 2017 |
语种 | 英语 |
国家 | 国际 |
领域 | 气候变化 |
英文摘要 |
![]() Developed countries’ long-term interest rates have influenced long-term government bond yields in emerging Asia. We explore the extent to which changes to long-term interest rates in major developed economies have influenced long-term government bond yields in emerging Asia. To gauge long-term interest spillover effects, we use vector autoregressive variance decompositions with high-frequency data. Our results reveal that sovereign bond yields in emerging Asia responded significantly to changes to the United States and eurozone bond yields, although the magnitudes were heterogeneous across countries. The magnitude of spillovers varied over time. The pattern of these variations can partially be explained by the implementation of different unconventional monetary policy measures in developed countries. WORKING PAPER NO: 705 |
URL | 查看原文 |
来源平台 | Asian Development Bank |
文献类型 | 科技报告 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/233959 |
专题 | 气候变化 |
推荐引用方式 GB/T 7714 | [unavailable]. Long-Term Interest Rate Spillovers from Major Developed Economies to Emerging Asia,2017. |
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adbi-wp705.pdf(2256KB) | 科技报告 | 开放获取 | CC BY-NC-SA | 浏览 下载 |
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