跨国利率影响实际宏观经济活动吗?实证分析

 . S. K. Rout, Hrushikesh Mallick
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引用次数: 0

摘要

我们试图了解利率对几个主要经济体(如发达经济体(美国、日本和德国)和新兴经济体(中国、印度和俄罗斯)的宏观经济活动的跨国影响。利用VAR模型的广义脉冲响应分析,我们发现发达国家的利率对经济活动的影响相对高于新兴经济体的利率。相比之下,在新兴经济体中,中国的利率对所有国家的经济活动都有影响,而印度和俄罗斯的利率对包括发达国家在内的其他国家的总体经济活动要么只有边际影响,要么没有影响。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Do the Cross-Country Interest Rate Affect Real Macroeconomic Activities? An Empirical Analysis
We attempt to understand the cross-country impact of interest rate on macroeconomic economic activities among a few major economies such as advanced economies (US, Japan, and Germany) and emerging economies (China, India, and Russia). Using Generalized Impulse Response analysis of VAR model, we find that advanced countries' interest rate affects economic activities relatively higher than emerging economies' interest rate. Contrastingly, among emerging economies, China's interest rate influences economic activities of all while interest rates of India and Russia have either marginal or no impact on others' aggregate economic activities, including advanced countries.
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