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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/101940

    Title: 美國量化寬鬆貨幣政策對亞澳美股市與不動產投資信託之影響
    Other Titles: The effect of American quantitative easing monetary policy on Asian, Australian and U.S. stock markets and real estate investment trusts
    Authors: 周宸宜;Chou, Chen-Yi
    Contributors: 淡江大學財務金融學系碩士在職專班
    Keywords: 量化寬鬆貨幣政策;股市;不動產投資信託;ARJI模型;Quantitative easing;Stock Market;REIT;ARJI Model
    Date: 2014
    Issue Date: 2015-05-04 09:43:36 (UTC+8)
    Abstract: 2008年的次級房屋信貸危機風暴產生後,美國在2008年11月開始了第一輪的量化寬鬆(Quantitative Easing 1)貨幣政策,至目前為止已推行了三輪QE政策,並突破了4兆美元,等於是購買了超過3.5兆美元的金融資產,這也相當於聯邦準備理事會釋放出3.5兆以上的美元到市場上,而形成國際資金的大規模移動。從QE1到QE3,不斷的把大量美元貨幣供給推到全球,而陸續的量化寬鬆貨幣政策是否對亞澳美股市及不動產投資信託(Real Estate Investment Trust ,REIT)造成顯著的影響是本研究主要探討的議題。
    After the 2008 Subprime mortgage crisis, US started the Quantitative Easing 1 in 2008 November, so far three have been implemented QE policy and exceeded 400 trillion U.S. dollars, equivalent to more than 3.5 trillion dollars to buy financial assets, which is equivalent to the Federal Reserve System will release more than U.S. $ 3.5 trillion to the market, and the formation of large-scale international capital movement. From QE1 to QE3, unceasing advances the massive US dollar currency supplies the whole world, and a succession of Quantitative Easing Monetary Policy is causing a significant impact to Asian, Australian, and USA Stock market and the Real Estate Investment Trust (Real Estate Investment Trust, REIT) has the remarkable influence is this research main discussion subject.
    This study takes Asian Australian country Japan, Hong Kong, Singapore, Australian and American itself and so on five countries as the object of study, mainly penetrates the ARJI model to match suitable Asian, Australian, and America various countries REIT and the stock market reward, catches its volatility jumps to caper behavior. The results show a succession of Quantitative Easing Monetary Policy have a significant impact to Asian Australia USA Stock market and real estate investment trust (REIT), and QE1 compares in QE2 and QE3 can cause various countries'' REIT and the stock market reward has a greater jump, the Quantitative Easing 1 influence is bigger than Quantitative Easing 2 and Quantitative Easing 3. This study also discovered the Quantitative Easing Monetary Policy is dissimilar to the different region and the national influence.
    Appears in Collections:[財務金融學系暨研究所] 學位論文

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