{
  "title": "Monetary Transmission of Global Imbalances in Asian Countries",
  "publication": "IMF Working Papers, September 1, 2010",
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  "summary": "The paper explores the linkages between the global and domestic monetary gaps, and estimates the effects of monetary gaps on output growth, inflation, and net saving rates using panel data for 20 Asian countries for 1980-2008.",
  "authors": [
    "Il Houng Lee",
    "Woon Gyu Choi"
  ],
  "publishDate": "2010-09-01",
  "series": "IMF Working Papers",
  "sections": [
    {
      "heading": "Summary",
      "content": "- Title: Monetary Transmission of Global Imbalances in Asian Countries\n- Authors: Il Houng Lee, Woon Gyu Choi\n- Publication date: September 1, 2010\n- Paper objective: Explores linkages between the global and domestic monetary gaps and estimates effects of monetary gaps on output growth, inflation, and net saving rates.\n- Sample and period: panel data for 20 Asian countries for 1980-2008."
    },
    {
      "heading": "Methodology and scope",
      "content": "- Empirical approach: dynamic panel estimation (implied by keywords and summary).\n- Key variables analyzed:\n  - global monetary gap\n  - domestic monetary gaps\n  - output growth / Output gap\n  - inflation / Prices\n  - net saving rates / saving-investment gap\n  - exchange rates and capital flows (subject areas referenced)\n- Regional focus: individual emerging market and developing countries in Asia."
    },
    {
      "heading": "Key findings",
      "content": "- There is a significant pass-through of the global monetary gap to domestic monetary gaps in the sample of 20 Asian countries for 1980-2008.\n- Domestic monetary gaps, in turn, affect:\n  - output growth\n  - inflation\n- Evidence indicates that the global monetary condition is partly responsible for the current account surplus in Asia.\n- The paper links global monetary conditions to net saving rates (net saving rates noted as an outcome variable)."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- The results draw implications for monetary policy coordination aimed at global rebalancing.\n- Suggested policy focus (implied by conclusions): coordination of monetary policies across countries to address spillovers from the global monetary gap to domestic outcomes such as output growth, inflation, and current account balances.\n\n---\n\n Content in this bundle\n\n- Wp10214\n  - Wp10214 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Wp10214 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/monetary-transmission-of-global-imbalances-in-asian-countries-24218"
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    "Authors: Il Houng Lee, Woon Gyu Choi",
    "Published: September 1, 2010",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781455205455.001",
    "Title: Monetary Transmission of Global Imbalances in Asian Countries",
    "Authors: Il Houng Lee, Woon Gyu Choi",
    "Publication date: September 1, 2010",
    "Paper objective: Explores linkages between the global and domestic monetary gaps and estimates effects of monetary gaps on output growth, inflation, and net saving rates.",
    "Sample and period: panel data for 20 Asian countries for 1980-2008.",
    "Empirical approach: dynamic panel estimation (implied by keywords and summary).",
    "Key variables analyzed:",
    "Regional focus: individual emerging market and developing countries in Asia.",
    "There is a significant pass-through of the global monetary gap to domestic monetary gaps in the sample of 20 Asian countries for 1980-2008.",
    "Domestic monetary gaps, in turn, affect:",
    "Evidence indicates that the global monetary condition is partly responsible for the current account surplus in Asia.",
    "The paper links global monetary conditions to net saving rates (net saving rates noted as an outcome variable).",
    "The results draw implications for monetary policy coordination aimed at global rebalancing.",
    "Suggested policy focus (implied by conclusions): coordination of monetary policies across countries to address spillovers from the global monetary gap to domestic outcomes such as output growth, inflation, and current account balances.",
    "**Wp10214**"
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