The monetary policy during shocks
An analysis of large Asian economies’ response to Covid-19
Bibliographic Data
| ID | 15068434 |
|---|---|
| Authors | Yechi Ma (Business School of Northeast Normal University, Changchun, China), Zhiguo Chen (0000-0003-1508-510X, Northeast Asia Research Center, Jilin University, Changchun, P.R. China, corresponding author), Muhammad Tariq Mahmood (0000-0001-6814-3137, Department of Economics, Federal Urdu University of Arts, Science & Technology, Islamabad, Pakistan), Muhammad Mahmood (0000-0002-0135-6856, Federal Urdu University), Sadaf Shahab (Department of Economics, Federal Urdu University of Arts, Science & Technology, Islamabad, Pakistan) |
| Year | 2022 |
| Volume | 35 |
| Issue | 1 |
| Pages | 1862-1883 |
| Publication date | 2022-12-31 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economic Research-Ekonomska Istraživanja (JOURNAL) |
| Journal identifiers | ISSN: 1331-677X • E-ISSN: 1848-9664 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/1331677x.2021.1926304 |
| OpenAlex | W3175321972 |
| Language | EN |
| Citations received | 1 |
| References cited | 42 |
The economies all over the world that have been adversely affected by the COVID-19 pandemic have recently started to devise different strategies to mitigate its consequences. Therefore, in order to dwell deeper into the measures taken by the policy makers around the world, this paper specifically analyzes how the monetary policies have been devised, in response to COVID-19. For this purpose, this paper has taken into consideration a panel of 8 Asian economies that have been affected the most acutely by the virus, have faced multiple lockdowns, and have also experienced other economic restraints, due to this very phenomenon. In order to compare the possible monetary policy options, and their outcomes during the COVID-19 pandemic, this paper refers to the global recession shock, as a valid point of reference. In addition to this, in order to gain access to the empirical evidence, the ARDL methodology has been applied on the quarterly data from 2005Q3 to 2020Q3. The results of the study have indicated that various plans have been taken into consideration, so as to lessen the consequences of these shocks that have trickled down into the respective economies of these countries. That is to put forth that, in the incidence of global recession, the monetary authorities have resorted to a less prudent stance. Whereas, more flexibility, through a persistent decrease in the policy rate has been observed since the pandemic first hit the world. In this regard, our results imply that a successful, efficient and effective response to the economic consequences of COVID-19, would ideally entail a set of remedial policies and structural reforms
Development economics · Economics · Global recession · Macroeconomics · Monetary economics · Monetary policy · Pandemic · Recession · COVID-19 Pandemic Impacts · Market Dynamics and Volatility · Medicine · Monetary Policy and Economic Impact · Finance
Risk Shocks
COP21 Roadmap
Discretion versus policy rules in practice
Inflation forecast targeting
Price reaction, volatility timing and funds’ performance during Covid-19
Measuring Uncertainty
Shocks and Frictions in US Business Cycles
Covid-19 and asset management in EU
Measuring Economic Policy Uncertainty
Financial implications of fourth industrial revolution
Robo advisors, algorithmic trading and investment management
Bank competition in China
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,33 |
| Citation span | 2023 - 2023 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |