Economic impact and monetary policy responses to the COVID-19 pandemic A comparative study of the Federal Reserve and People’s bank of china and their effects on US and China.
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| Format: | Thesis |
| Kulcsszavak: | economic impact Federal Reserve koronavírus-járvány (COVID-19) monetary policy People's Bank of China |
| Online Access: | http://dolgozattar.uni-bge.hu/54794 |
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| 100 | 1 | |a Meghwar Avinash | |
| 245 | 1 | 0 | |a Economic impact and monetary policy responses to the COVID-19 pandemic |b A comparative study of the Federal Reserve and People’s bank of china and their effects on US and China. |c Meghwar Avinash |h [elektronikus dokumentum] |
| 520 | 3 | |a COVID-19 first appeared in Wuhan, China, in December 2019 causing global health and economic crisis. By March 22, 2021, the virus had caused over 2.7 million deaths and millions of infections worldwide, with the United States contributing about 20 percent of these deaths. The COVID-19 pandemic caused the world's central banks to act quickly in response to the unprecedented economic challenges. This research examines the complex effects on China and the United States, concentrating on important metrics like GDP, inflation, and unemployment. Key actors included the Federal Reserve and the People's Bank of China, each of which used unique but effective monetary policies.As the pandemic spread, the United States' GDP declined significantly, which raised unemployment rates. China's yearly growth, on the other hand, significantly decreased, demonstrating the extensive economic impact. Global supply chains were affected by significant challenges faced by industries like hospitality and tourism. The study also investigates various actions taken by the People’s Bank of China and the Federal Reserve. Proactively, the Federal Reserve adopted policies such as quantitative easing and close to zero interest rates, which successfully stabilized the financial markets. On the other hand, the People’s Bank of China adopted a more calculated approach, prioritizing cautious monetary easing and fiscal stimulus.It also emphasizes how difficult it was for both central banks to achieve a balance between financial stability and economic growth. Concerns about inflation and financial instability highlight the need for careful long-term monitoring. Although the United States chose a broad strategy, China's measured response raises the question of how to maintain a balance between financial risk and economic growth. The research provides strategic improvement recommendations for upcoming crises based on these insights. China is encouraged to maximize the impact of its monetary policies by employing cutting-edge tools for immediate intervention. Policymaking must beflexible and apply both traditional and non-conventional methods into a larger toolkit. Maintaining a balance between financial stability and credit support is paramount, with coordinated action between fiscal and monetary authorities enhancing resilience. | |
| 695 | |a economic impact | ||
| 695 | |a Federal Reserve | ||
| 695 | |a koronavírus-járvány (COVID-19) | ||
| 695 | |a monetary policy | ||
| 695 | |a People's Bank of China | ||
| 700 | 1 | |a Ábel Dr.habil. István |e ths | |
| 700 | 1 | |a Tasi Péter |e ths | |
| 856 | 4 | 0 | |u http://dolgozattar.uni-bge.hu/54794/1/Avinash%20Meghwar_G7FWWE.pdf |z Dokumentum-elérés |
| 856 | 4 | 0 | |u http://dolgozattar.uni-bge.hu/54794/2/thesis-summary_Avinash2023.pdf |z Dokumentum-elérés |
| 856 | 4 | 0 | |u http://dolgozattar.uni-bge.hu/54794/3/Meghwar%20Avinash%20thesis_review_Abel%20Istvan.pdf |z Dokumentum-elérés |
| 856 | 4 | 0 | |u http://dolgozattar.uni-bge.hu/54794/4/Meghwar%20Avinash_rev_q_mon%20pol_US_China.pdf |z Dokumentum-elérés |