01931cas a2200277 a 4500 AALejournalIMF015189 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475520668 1018-5941 BD-DhAAL BD-DhAAL Chen, Qianying. Financial Crisis, US Unconventional Monetary Policy and International Spillovers / Qianying Chen, Andrew Filardo, Dong He, Feng Zhu. Washington, D.C. : International Monetary Fund, 2015. 1 online resource (32 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We study the impact of the US quantitative easing (QE) on both the emerging and advanced economies, estimating a global vector error-correction model (GVECM) and conducting counterfactual analyses. We focus on the effects of reductions in the US term and corporate spreads. First, US QE measures reducing the US corporate spread appear to be more important than lowering the US term spread. Second, US QE measures might have prevented episodes of prolonged recession and deflation in the advanced economies. Third, the estimated effects on the emerging economies have been diverse but often larger than those recorded in the US and other advanced economies. The heterogeneous effects from US QE measures indicate unevenly distributed benefits and costs. Mode of access: Internet Filardo, Andrew. He, Dong. Zhu, Feng. IMF Working Papers; Working Paper ; No. 2015/085 Full text available on IMF http://elibrary.imf.org/view/journals/001/2015/085/001.2015.issue-085-en.xml IMF e-Library