The Trade Effects of Quantitative Easing Policies of the US and Japan

• Main Authors: LIN, YU-CING, 林郁晴
• Other Authors: Hou, Huei-Ling
• Format: Others
• Language: zh-TW
• Published: 2016
• Online Access: http://ndltd.ncl.edu.tw/handle/d72mub

碩士 === 東海大學 === 經濟系 === 104 === In recent years, many countries in order to resolve the economy recession have been pushing their quantitative easing policy. Japan is the first country to implement this policy, and Japan re-implements this policy in 2010. Some of the countries also begin to evaluate whether this policy should be followed up in their country or not. Since the global financial crisis happened in 2008, the global financial systems have been in a state of turmoil. In order to mitigate the impact of the financial crisis, the United States began to implement the QE policy in 2009. Whether this policy is helpful for the international trade is discussed in this paper. In this paper, the main research objects are the United States in which has completed for the implementation of the quantitative easing policy, and the Japanese, Abe, who has been implementing the policy of Three Arrows. The study period was from 2005 Q1 to 2015 Q3. However, the US QE policy will influence Japan trade, so the research periods of these two countries are assumed in the same period in this paper. The two methods are used in this paper. One is multiple regression models, and the other is structural breaks. And paper will resolve whether these two methods have the same results or not. In the end of the paper, this study discusses that the monetary easing policy whether also affects Taiwanese trade or not.