美国经济学作业代写:量化紧缩

Keywords:美国经济学作业代写:量化紧缩

就量化紧缩而言，理论上讲，加息可以吸引外国投资。这可能导致对卢比的需求增加，进而导致卢比升值。这也可能有助于印度政府从不断扩大的经常账户赤字中复苏。然而，在美联储最近加息的背景下，这一策略可能被证明是无效的，它可能会激起市场投资者对卢比的浓厚兴趣。从其他未能通过加息解决本币贬值问题的新兴经济体身上汲取教训，可能是印度央行的最佳利益所在。与贸易伙伴和竞争对手相比，印度产品的成本较低，因此可能在全球市场上更具竞争力。目前，进口正在迅速增长，可能抵消潜在的出口收益(Bhandari, 2018)。如果加息确实导致卢比升值，国际收支状况只会进一步恶化。此外，鉴于印度市场目前面临的流动性压力，印度央行采取定量紧缩措施是不合适的。印度的影子银行业存在问题。通过加息进一步消耗流动性，无助于缓解IL&FS(一家印度基础设施开发和金融公司)破产的压力。政府已经不得不救助IL&FS (Shukla, 2018)，印度央行计划采取公开市场操作，以3600亿卢比缓解这种情况。对于印度央行和印度政府来说，经常账户赤字可能是一个紧迫的问题。但如果流动性状况恶化，政府机构将被迫进一步干预市场，从而进一步扩大账户赤字。收紧政策还将抵消通过放松法定流动性要求向借款人提供的支持。
美国经济学作业代写:量化紧缩
 In the case of quantitative tightening, theoretically, increased interest rates could attract foreign investment. It could lead onto an increase in demand for the rupee and subsequently the currency’s appreciation. This could also potentially assist the Indian government recover from its widening current account deficit. However, against the recent Fed interest rate hikes this strategy may prove to be ineffective stirring much market investors’ interest towards the rupee. It may be the RBI’s best interest to learn a lesson from fellow emerging economies that have failed to resolve their currency’s depreciation via rate hikes .The current decline in the rupee may prove to be beneficial to the exports sector. Having lower costs comparatively to trade partners and competitors, Indian products may become more competitive in the global market. As it stands, imports are rapidly growing and are likely to offset potential export gains (Bhandari, 2018). If a rate hike does lead to the appreciation of the rupee, the balance of payments is only likely to worsen.Moreover, quantitative tightening from the RBI is inappropriate given the liquidity stress that the Indian market is currently experiencing. There is trouble in India’s shadow banking industry. A further drain on the liquidity through rate hikes will do nothing to ease the pressures of the collapse of IL&FS (an Indian infrastructure development and finance company). The government has already had to bail out IL&FS (Shukla, 2018), and the RBI scheduled to take on open market operations to relieve the situation with 360 billion rupees . The current account deficit may be a pressing issue for the RBI and Indian Government. But if the liquidity situation worsens, the government bodies will be forced to intervene even more in the market, and thus further widen the account deficit.  A tightening of policy would also negate the support provided to borrowers via the relaxation in statutory liquidity requirements .