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The impact of industrialized countries’ monetary policy on emerging economies


Time: 2:00pm-3:30pm, May 30, 2019

Venue: Room 606, School of Economics, Peking University

SpeakerVincenzo Quadrini (Marhsall School of Business, University of Southern California)



In this paper I study how the low interest rate policies adopted by industrialized countries may have impacted the economic performance of emerging countries. Although these policies have been associated with a reduced outflows of capital away from emerging countries, the economic performance of these countries has deteriorated more than in industrial countries. I propose a model where lower interest rates in industrialized countries could have negative macroeconomic effects for emerging countries, contrary to the more traditional view.



Vincenzo Quadrini is James McN. Stancill Chair in Business Administration, Chair of the Department of Finance and Business Economics, and professor of Finance and Business at the Marshall School of Business of the University of Southern California. He is a macroeconomist who focuses on international economics, entrepreneurship, and financial contracts. His research has been published in top economics journals, including the American Economic Review, Journal of Political Economy, Review of Economic Studies, Journal of Monetary Economics and Journal of Economic Theory.  He is coordinating editor of Review of Economic Dynamics, associate editor of Journal of Financial Intermediation, and a faculty research fellow at the National Bureau of Economic Research and the Center for Economic Policy Research. Before joining USC, he was on the faculty at New York University, Duke University, and Pompeu Fabra University.