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The Impact of Global Excess Liquidity on Currency Markets of Developed Commodity Economies

Student: Karnaukhov Ilya

Supervisor: Valery Mironov

Faculty: Faculty of World Economy and International Affairs

Educational Programme: World Economy (Bachelor)

Year of Graduation: 2018

This work studies the impact of liquidity shocks on the currencies of developed commodity economies (Australia, Canada, Norway). The measures of the unconventional monetary policy of the US Federal Reserve System, which were introduced after the crisis of 2007-2008 are understood as the shock of liquidity. We use an exploratory version of the capital asset model and regression analysis in this research. The analysis is carried out in the context of the influence of such indicators as interest rate differential, commodity export indices and the size of short and long positions of various economic agents on the dynamic of exchange rate the countries.

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