NY Fed research plays down QE impact on emerging markets

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A staff report published by the Federal Reserve Bank of New York in January has found that increases in the size of the Fed's quantitative easing programme do affect foreign investment in emerging economies, with an effect that is "qualitatively similar to conventional US monetary policy easing".

Jeffrey Moore, Sunwoo Nam, Myeongguk Suh and Alexander Tepper analysed quarterly data from 2004 to 2010 in 10 emerging market countries, finding that a 10 basis point reduction in long-term US Treasury

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