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

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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.

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  • Adhikari, Deergha Raj Adhikari, 2016. "Effect of Recent U.S. Monetary Policy on the Balance of Trade. - Gli effetti della recente politica monetaria degli USA sulla bilancia dei pagamenti," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 69(1), pages 1-10.
    • Handle: RePEc:ris:ecoint:0767
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    More about this item

    Keywords

    Quantitative Easing; Real GDP; Balance of Trade;
    All these keywords.

    JEL classification:

    • F30 - International Economics - - International Finance - - - General

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