The Credit Channel in Taiwan and Korea: A Structural VAR Approach
碩士 === 國立中正大學 === 國際經濟所 === 97 === This paper investigates whether the credit channel prevails in Taiwan and Korea by constructing a SVAR model based on Safaei and Cameron (2003). The evidence from our estimation shows that the credit channel does exist in Taiwan but not in Korea. The analysis of im...
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2009
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ndltd-TW-097CCU053240372016-05-04T04:25:48Z http://ndltd.ncl.edu.tw/handle/57180636777306829831 The Credit Channel in Taiwan and Korea: A Structural VAR Approach 台灣與韓國信用管道之研究-以結構性VAR方法探討 Hsin-Fang Shih 石欣方 碩士 國立中正大學 國際經濟所 97 This paper investigates whether the credit channel prevails in Taiwan and Korea by constructing a SVAR model based on Safaei and Cameron (2003). The evidence from our estimation shows that the credit channel does exist in Taiwan but not in Korea. The analysis of impulse responses illustrates that the credit channel strengthens the negative effect of unexpected contractive monetary policy on income only in Taiwan. In addition, commercial paper outstanding can significantly be affected by the monetary policy in Taiwan and not significantly in Korea. Therefore, we conclude that the credit channel is asymmetric in terms of the scale of economies. Li-Kung Ferng 馮立功 2009 學位論文 ; thesis 28 en_US |
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en_US |
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Others
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碩士 === 國立中正大學 === 國際經濟所 === 97 === This paper investigates whether the credit channel prevails in Taiwan and Korea by constructing a SVAR model based on Safaei and Cameron (2003). The evidence from our estimation shows that the credit channel does exist in Taiwan but not in Korea. The analysis of impulse responses illustrates that the credit channel strengthens the negative effect of unexpected contractive monetary policy on income only in Taiwan. In addition, commercial paper outstanding can significantly be affected by the monetary policy in Taiwan and not significantly in Korea. Therefore, we conclude that the credit channel is asymmetric in terms of the scale of economies.
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Li-Kung Ferng |
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Li-Kung Ferng Hsin-Fang Shih 石欣方 |
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Hsin-Fang Shih 石欣方 |
| spellingShingle |
Hsin-Fang Shih 石欣方 The Credit Channel in Taiwan and Korea: A Structural VAR Approach |
| author_sort |
Hsin-Fang Shih |
| title |
The Credit Channel in Taiwan and Korea: A Structural VAR Approach |
| title_short |
The Credit Channel in Taiwan and Korea: A Structural VAR Approach |
| title_full |
The Credit Channel in Taiwan and Korea: A Structural VAR Approach |
| title_fullStr |
The Credit Channel in Taiwan and Korea: A Structural VAR Approach |
| title_full_unstemmed |
The Credit Channel in Taiwan and Korea: A Structural VAR Approach |
| title_sort |
credit channel in taiwan and korea: a structural var approach |
| publishDate |
2009 |
| url |
http://ndltd.ncl.edu.tw/handle/57180636777306829831 |
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