Invites you to a

Macroeconomics and Trade seminar presented by

Begoña Dominguez

(The University of Queensland)

Accessing U.S. Dollar Swap Lines:
Macroeconomic Implications for a Small Open Economy

 Wednesday 7 June 2023

2:00pm – 3.30pm

 Level 6 Seminar Room (650)

A02 Social Sciences Building
Camperdown Campus

The University of Sydney NSW 2006

 Zoom: 820 4328 5777

 In this paper we propose a framework to study the macroeconomic implications for a small open economy of the dollar swap arrangements between its central bank and the Federal Reserve System and its interaction with domestic quantitative easing policies. We incorporate the salient features of such agreements between central banks into a dynamic general equilibrium framework where fiat money is valued. We then determine the monetary policy effects of such swap lines in the local economy. We also characterize the circumstances under which swap lines can be equivalent to a combination of quantitative easing and interest rate management policies.

For further information contact: Macroeconomics and Trade seminar series coordinator Dr James Graham (james.a.graham@sydney.edu.au)

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