id	sid	tid	token	lemma	pos
fbem-24666	1	1	frontiers	frontier	NOUN
fbem-24666	1	2	in	in	ADP
fbem-24666	1	3	business	business	NOUN
fbem-24666	1	4	,	,	PUNCT
fbem-24666	1	5	economics	economic	NOUN
fbem-24666	1	6	and	and	CCONJ
fbem-24666	1	7	management	management	NOUN
fbem-24666	1	8	issn	issn	PROPN
fbem-24666	1	9	:	:	PUNCT
fbem-24666	1	10	2766	2766	NUM
fbem-24666	1	11	-	-	PUNCT
fbem-24666	1	12	824x	824x	NUM
fbem-24666	1	13	|	|	ADJ
fbem-24666	1	14	vol	vol	NOUN
fbem-24666	1	15	.	.	PUNCT
fbem-24666	2	1	16	16	NUM
fbem-24666	2	2	,	,	PUNCT
fbem-24666	2	3	no	no	INTJ
fbem-24666	2	4	.	.	NOUN
fbem-24666	2	5	1	1	NUM
fbem-24666	2	6	,	,	PUNCT
fbem-24666	2	7	2024	2024	NUM
fbem-24666	2	8	83	83	NUM
fbem-24666	2	9	the	the	DET
fbem-24666	2	10	impact	impact	NOUN
fbem-24666	2	11	of	of	ADP
fbem-24666	2	12	the	the	DET
fbem-24666	2	13	latest	late	ADJ
fbem-24666	2	14	federal	federal	PROPN
fbem-24666	2	15	reserve	reserve	PROPN
fbem-24666	2	16	interest	interest	NOUN
fbem-24666	2	17	rate	rate	NOUN
fbem-24666	2	18	hike	hike	NOUN
fbem-24666	2	19	on	on	ADP
fbem-24666	2	20	the	the	DET
fbem-24666	2	21	chinese	chinese	ADJ
fbem-24666	2	22	economy	economy	NOUN
fbem-24666	2	23	weiran	weiran	VERB
fbem-24666	2	24	zhang	zhang	PROPN
fbem-24666	2	25	1	1	NUM
fbem-24666	2	26	,	,	PUNCT
fbem-24666	2	27	sichen	sichen	PROPN
fbem-24666	2	28	yu	yu	PROPN
fbem-24666	2	29	1	1	NUM
fbem-24666	2	30	and	and	CCONJ
fbem-24666	2	31	yihan	yihan	NOUN
fbem-24666	2	32	li	li	PROPN
fbem-24666	2	33	2	2	NUM
fbem-24666	2	34	1	1	NUM
fbem-24666	2	35	school	school	NOUN
fbem-24666	2	36	of	of	ADP
fbem-24666	2	37	economics	economic	NOUN
fbem-24666	2	38	and	and	CCONJ
fbem-24666	2	39	management	management	NOUN
fbem-24666	2	40	,	,	PUNCT
fbem-24666	2	41	yanbian	yanbian	ADJ
fbem-24666	2	42	university	university	NOUN
fbem-24666	2	43	,	,	PUNCT
fbem-24666	2	44	hunchun	hunchun	NOUN
fbem-24666	2	45	133300	133300	NUM
fbem-24666	2	46	,	,	PUNCT
fbem-24666	2	47	china	china	PROPN
fbem-24666	2	48	2	2	NUM
fbem-24666	2	49	school	school	NOUN
fbem-24666	2	50	of	of	ADP
fbem-24666	2	51	english	english	PROPN
fbem-24666	2	52	and	and	CCONJ
fbem-24666	2	53	international	international	ADJ
fbem-24666	2	54	studies	study	NOUN
fbem-24666	2	55	,	,	PUNCT
fbem-24666	2	56	beijing	beijing	PROPN
fbem-24666	2	57	foreign	foreign	PROPN
fbem-24666	2	58	studies	study	NOUN
fbem-24666	2	59	university	university	PROPN
fbem-24666	2	60	,	,	PUNCT
fbem-24666	2	61	beijing	beijing	PROPN
fbem-24666	2	62	100089	100089	NUM
fbem-24666	2	63	,	,	PUNCT
fbem-24666	2	64	china	china	PROPN
fbem-24666	2	65	abstract	abstract	NOUN
fbem-24666	2	66	:	:	PUNCT
fbem-24666	2	67	this	this	DET
fbem-24666	2	68	study	study	NOUN
fbem-24666	2	69	utilizes	utilize	VERB
fbem-24666	2	70	weekly	weekly	ADJ
fbem-24666	2	71	data	datum	NOUN
fbem-24666	2	72	from	from	ADP
fbem-24666	2	73	march	march	PROPN
fbem-24666	2	74	2022	2022	NUM
fbem-24666	2	75	to	to	ADP
fbem-24666	2	76	september	september	PROPN
fbem-24666	2	77	2023	2023	NUM
fbem-24666	2	78	,	,	PUNCT
fbem-24666	2	79	employing	employ	VERB
fbem-24666	2	80	the	the	DET
fbem-24666	2	81	tvp	tvp	ADJ
fbem-24666	2	82	-	-	PUNCT
fbem-24666	2	83	var	var	NOUN
fbem-24666	2	84	model	model	NOUN
fbem-24666	2	85	to	to	PART
fbem-24666	2	86	empirically	empirically	ADV
fbem-24666	2	87	analyze	analyze	VERB
fbem-24666	2	88	the	the	DET
fbem-24666	2	89	impact	impact	NOUN
fbem-24666	2	90	of	of	ADP
fbem-24666	2	91	the	the	DET
fbem-24666	2	92	federal	federal	PROPN
fbem-24666	2	93	reserve	reserve	PROPN
fbem-24666	2	94	's	's	PART
fbem-24666	2	95	interest	interest	NOUN
fbem-24666	2	96	rate	rate	NOUN
fbem-24666	2	97	hikes	hike	NOUN
fbem-24666	2	98	on	on	ADP
fbem-24666	2	99	the	the	DET
fbem-24666	2	100	chinese	chinese	ADJ
fbem-24666	2	101	economy	economy	NOUN
fbem-24666	2	102	.	.	PUNCT
fbem-24666	3	1	the	the	DET
fbem-24666	3	2	results	result	NOUN
fbem-24666	3	3	indicate	indicate	VERB
fbem-24666	3	4	that	that	SCONJ
fbem-24666	3	5	the	the	DET
fbem-24666	3	6	federal	federal	PROPN
fbem-24666	3	7	reserve	reserve	PROPN
fbem-24666	3	8	's	's	PART
fbem-24666	3	9	rate	rate	NOUN
fbem-24666	3	10	hikes	hike	NOUN
fbem-24666	3	11	have	have	AUX
fbem-24666	3	12	exerted	exert	VERB
fbem-24666	3	13	negative	negative	ADJ
fbem-24666	3	14	shocks	shock	NOUN
fbem-24666	3	15	on	on	ADP
fbem-24666	3	16	china	china	PROPN
fbem-24666	3	17	's	's	PART
fbem-24666	3	18	output	output	NOUN
fbem-24666	3	19	,	,	PUNCT
fbem-24666	3	20	with	with	ADP
fbem-24666	3	21	the	the	DET
fbem-24666	3	22	effects	effect	NOUN
fbem-24666	3	23	dissipating	dissipate	VERB
fbem-24666	3	24	after	after	ADP
fbem-24666	3	25	8	8	NUM
fbem-24666	3	26	to	to	PART
fbem-24666	3	27	12	12	NUM
fbem-24666	3	28	lags	lag	NOUN
fbem-24666	3	29	.	.	PUNCT
fbem-24666	4	1	china	china	PROPN
fbem-24666	4	2	's	's	PART
fbem-24666	4	3	monetary	monetary	ADJ
fbem-24666	4	4	policy	policy	NOUN
fbem-24666	4	5	has	have	AUX
fbem-24666	4	6	shown	show	VERB
fbem-24666	4	7	a	a	DET
fbem-24666	4	8	short	short	ADJ
fbem-24666	4	9	-	-	PUNCT
fbem-24666	4	10	term	term	NOUN
fbem-24666	4	11	inverse	inverse	NOUN
fbem-24666	4	12	relationship	relationship	NOUN
fbem-24666	4	13	with	with	ADP
fbem-24666	4	14	that	that	PRON
fbem-24666	4	15	of	of	ADP
fbem-24666	4	16	the	the	DET
fbem-24666	4	17	united	united	PROPN
fbem-24666	4	18	states	states	PROPN
fbem-24666	4	19	,	,	PUNCT
fbem-24666	4	20	though	though	SCONJ
fbem-24666	4	21	the	the	DET
fbem-24666	4	22	overall	overall	ADJ
fbem-24666	4	23	impact	impact	NOUN
fbem-24666	4	24	remains	remain	VERB
fbem-24666	4	25	minimal	minimal	ADJ
fbem-24666	4	26	.	.	PUNCT
fbem-24666	5	1	the	the	DET
fbem-24666	5	2	rate	rate	NOUN
fbem-24666	5	3	hikes	hike	NOUN
fbem-24666	5	4	have	have	AUX
fbem-24666	5	5	suppressed	suppress	VERB
fbem-24666	5	6	china	china	PROPN
fbem-24666	5	7	's	's	PART
fbem-24666	5	8	fixed	fix	VERB
fbem-24666	5	9	asset	asset	NOUN
fbem-24666	5	10	investments	investment	NOUN
fbem-24666	5	11	,	,	PUNCT
fbem-24666	5	12	with	with	ADP
fbem-24666	5	13	a	a	DET
fbem-24666	5	14	gradually	gradually	ADV
fbem-24666	5	15	diminishing	diminish	VERB
fbem-24666	5	16	impact	impact	NOUN
fbem-24666	5	17	on	on	ADP
fbem-24666	5	18	gdp	gdp	NOUN
fbem-24666	5	19	.	.	PUNCT
fbem-24666	6	1	additionally	additionally	ADV
fbem-24666	6	2	,	,	PUNCT
fbem-24666	6	3	the	the	DET
fbem-24666	6	4	rate	rate	NOUN
fbem-24666	6	5	hikes	hike	NOUN
fbem-24666	6	6	have	have	AUX
fbem-24666	6	7	negatively	negatively	ADV
fbem-24666	6	8	affected	affect	VERB
fbem-24666	6	9	the	the	DET
fbem-24666	6	10	rmb	rmb	PROPN
fbem-24666	6	11	exchange	exchange	NOUN
fbem-24666	6	12	rate	rate	NOUN
fbem-24666	6	13	and	and	CCONJ
fbem-24666	6	14	china	china	PROPN
fbem-24666	6	15	's	's	PART
fbem-24666	6	16	exports	export	NOUN
fbem-24666	6	17	,	,	PUNCT
fbem-24666	6	18	with	with	ADP
fbem-24666	6	19	the	the	DET
fbem-24666	6	20	rising	rise	VERB
fbem-24666	6	21	usd	usd	NOUN
fbem-24666	6	22	/	/	SYM
fbem-24666	6	23	rmb	rmb	NOUN
fbem-24666	6	24	exchange	exchange	NOUN
fbem-24666	6	25	rate	rate	NOUN
fbem-24666	6	26	further	far	ADV
fbem-24666	6	27	restraining	restrain	VERB
fbem-24666	6	28	exports	export	NOUN
fbem-24666	6	29	.	.	PUNCT
fbem-24666	7	1	the	the	DET
fbem-24666	7	2	widening	widen	VERB
fbem-24666	7	3	interest	interest	NOUN
fbem-24666	7	4	rate	rate	NOUN
fbem-24666	7	5	differential	differential	NOUN
fbem-24666	7	6	between	between	ADP
fbem-24666	7	7	the	the	DET
fbem-24666	7	8	usd	usd	NOUN
fbem-24666	7	9	and	and	CCONJ
fbem-24666	7	10	rmb	rmb	PROPN
fbem-24666	7	11	has	have	AUX
fbem-24666	7	12	impacted	impact	VERB
fbem-24666	7	13	china	china	PROPN
fbem-24666	7	14	's	's	PART
fbem-24666	7	15	stock	stock	NOUN
fbem-24666	7	16	market	market	NOUN
fbem-24666	7	17	,	,	PUNCT
fbem-24666	7	18	making	make	VERB
fbem-24666	7	19	international	international	ADJ
fbem-24666	7	20	capital	capital	NOUN
fbem-24666	7	21	more	more	ADV
fbem-24666	7	22	inclined	inclined	ADJ
fbem-24666	7	23	to	to	PART
fbem-24666	7	24	invest	invest	VERB
fbem-24666	7	25	in	in	ADP
fbem-24666	7	26	u.s	u.s	PROPN
fbem-24666	7	27	.	.	PROPN
fbem-24666	7	28	enterprises	enterprise	NOUN
fbem-24666	7	29	.	.	PUNCT
fbem-24666	8	1	to	to	PART
fbem-24666	8	2	address	address	VERB
fbem-24666	8	3	these	these	DET
fbem-24666	8	4	challenges	challenge	NOUN
fbem-24666	8	5	,	,	PUNCT
fbem-24666	8	6	this	this	DET
fbem-24666	8	7	paper	paper	NOUN
fbem-24666	8	8	recommends	recommend	VERB
fbem-24666	8	9	that	that	SCONJ
fbem-24666	8	10	china	china	PROPN
fbem-24666	8	11	continue	continue	VERB
fbem-24666	8	12	to	to	PART
fbem-24666	8	13	implement	implement	VERB
fbem-24666	8	14	a	a	DET
fbem-24666	8	15	prudent	prudent	ADJ
fbem-24666	8	16	monetary	monetary	ADJ
fbem-24666	8	17	policy	policy	NOUN
fbem-24666	8	18	,	,	PUNCT
fbem-24666	8	19	advance	advance	NOUN
fbem-24666	8	20	rmb	rmb	NOUN
fbem-24666	8	21	internationalization	internationalization	NOUN
fbem-24666	8	22	and	and	CCONJ
fbem-24666	8	23	exchange	exchange	NOUN
fbem-24666	8	24	rate	rate	NOUN
fbem-24666	8	25	marketization	marketization	NOUN
fbem-24666	8	26	reforms	reform	NOUN
fbem-24666	8	27	,	,	PUNCT
fbem-24666	8	28	enhance	enhance	VERB
fbem-24666	8	29	market	market	NOUN
fbem-24666	8	30	liquidity	liquidity	NOUN
fbem-24666	8	31	,	,	PUNCT
fbem-24666	8	32	and	and	CCONJ
fbem-24666	8	33	improve	improve	VERB
fbem-24666	8	34	the	the	DET
fbem-24666	8	35	stock	stock	NOUN
fbem-24666	8	36	market	market	NOUN
fbem-24666	8	37	and	and	CCONJ
fbem-24666	8	38	institutional	institutional	ADJ
fbem-24666	8	39	frameworks	framework	NOUN
fbem-24666	8	40	to	to	PART
fbem-24666	8	41	bolster	bolster	VERB
fbem-24666	8	42	economic	economic	ADJ
fbem-24666	8	43	stability	stability	NOUN
fbem-24666	8	44	and	and	CCONJ
fbem-24666	8	45	resilience	resilience	NOUN
fbem-24666	8	46	.	.	PUNCT
fbem-24666	9	1	the	the	DET
fbem-24666	9	2	findings	finding	NOUN
fbem-24666	9	3	provide	provide	VERB
fbem-24666	9	4	theoretical	theoretical	ADJ
fbem-24666	9	5	foundations	foundation	NOUN
fbem-24666	9	6	and	and	CCONJ
fbem-24666	9	7	feasible	feasible	ADJ
fbem-24666	9	8	strategies	strategy	NOUN
fbem-24666	9	9	for	for	ADP
fbem-24666	9	10	sustaining	sustain	VERB
fbem-24666	9	11	china	china	PROPN
fbem-24666	9	12	's	's	PART
fbem-24666	9	13	economi	economi	NOUN
fbem-24666	9	14	c	c	NOUN
fbem-24666	9	15	growth	growth	NOUN
fbem-24666	9	16	and	and	CCONJ
fbem-24666	9	17	mitigating	mitigate	VERB
fbem-24666	9	18	external	external	ADJ
fbem-24666	9	19	shocks	shock	NOUN
fbem-24666	9	20	.	.	PUNCT
fbem-24666	10	1	keywords	keyword	NOUN
fbem-24666	10	2	:	:	PUNCT
fbem-24666	10	3	federal	federal	PROPN
fbem-24666	10	4	reserve	reserve	PROPN
fbem-24666	10	5	interest	interest	PROPN
fbem-24666	10	6	rate	rate	NOUN
fbem-24666	10	7	hikes	hike	NOUN
fbem-24666	10	8	,	,	PUNCT
fbem-24666	10	9	chinese	chinese	ADJ
fbem-24666	10	10	economy	economy	NOUN
fbem-24666	10	11	,	,	PUNCT
fbem-24666	10	12	tvp	tvp	PROPN
fbem-24666	10	13	-	-	PUNCT
fbem-24666	10	14	var	var	NOUN
fbem-24666	10	15	.	.	PUNCT
fbem-24666	11	1	1	1	X
fbem-24666	11	2	.	.	X
fbem-24666	11	3	introduction	introduction	NOUN
fbem-24666	11	4	since	since	SCONJ
fbem-24666	11	5	china	china	PROPN
fbem-24666	11	6	joined	join	VERB
fbem-24666	11	7	the	the	DET
fbem-24666	11	8	wto	wto	PROPN
fbem-24666	11	9	in	in	ADP
fbem-24666	11	10	2001	2001	NUM
fbem-24666	11	11	,	,	PUNCT
fbem-24666	11	12	its	its	PRON
fbem-24666	11	13	economy	economy	NOUN
fbem-24666	11	14	has	have	AUX
fbem-24666	11	15	experienced	experience	VERB
fbem-24666	11	16	sustained	sustained	ADJ
fbem-24666	11	17	growth	growth	NOUN
fbem-24666	11	18	and	and	CCONJ
fbem-24666	11	19	remarkable	remarkable	ADJ
fbem-24666	11	20	achievements	achievement	NOUN
fbem-24666	11	21	.	.	PUNCT
fbem-24666	12	1	however	however	ADV
fbem-24666	12	2	,	,	PUNCT
fbem-24666	12	3	the	the	DET
fbem-24666	12	4	close	close	ADJ
fbem-24666	12	5	interconnectedness	interconnectedness	NOUN
fbem-24666	12	6	and	and	CCONJ
fbem-24666	12	7	interdependence	interdependence	NOUN
fbem-24666	12	8	of	of	ADP
fbem-24666	12	9	the	the	DET
fbem-24666	12	10	global	global	ADJ
fbem-24666	12	11	economy	economy	NOUN
fbem-24666	12	12	mean	mean	VERB
fbem-24666	12	13	that	that	SCONJ
fbem-24666	12	14	china	china	PROPN
fbem-24666	12	15	's	's	PART
fbem-24666	12	16	economic	economic	ADJ
fbem-24666	12	17	development	development	NOUN
fbem-24666	12	18	is	be	AUX
fbem-24666	12	19	influenced	influence	VERB
fbem-24666	12	20	by	by	ADP
fbem-24666	12	21	the	the	DET
fbem-24666	12	22	international	international	ADJ
fbem-24666	12	23	environment	environment	NOUN
fbem-24666	12	24	,	,	PUNCT
fbem-24666	12	25	particularly	particularly	ADV
fbem-24666	12	26	the	the	DET
fbem-24666	12	27	monetary	monetary	ADJ
fbem-24666	12	28	policies	policy	NOUN
fbem-24666	12	29	of	of	ADP
fbem-24666	12	30	the	the	DET
fbem-24666	12	31	federal	federal	PROPN
fbem-24666	12	32	reserve	reserve	PROPN
fbem-24666	12	33	.	.	PUNCT
fbem-24666	13	1	following	follow	VERB
fbem-24666	13	2	the	the	DET
fbem-24666	13	3	outbreak	outbreak	NOUN
fbem-24666	13	4	of	of	ADP
fbem-24666	13	5	the	the	DET
fbem-24666	13	6	covid-19	covid-19	PROPN
fbem-24666	13	7	pandemic	pandemic	NOUN
fbem-24666	13	8	in	in	ADP
fbem-24666	13	9	early	early	ADJ
fbem-24666	13	10	2020	2020	NUM
fbem-24666	13	11	,	,	PUNCT
fbem-24666	13	12	the	the	DET
fbem-24666	13	13	u.s	u.s	PROPN
fbem-24666	13	14	.	.	PROPN
fbem-24666	13	15	government	government	NOUN
fbem-24666	13	16	implemented	implement	VERB
fbem-24666	13	17	extremely	extremely	ADV
fbem-24666	13	18	accommodative	accommodative	ADJ
fbem-24666	13	19	fiscal	fiscal	ADJ
fbem-24666	13	20	and	and	CCONJ
fbem-24666	13	21	monetary	monetary	ADJ
fbem-24666	13	22	policies	policy	NOUN
fbem-24666	13	23	to	to	PART
fbem-24666	13	24	support	support	VERB
fbem-24666	13	25	the	the	DET
fbem-24666	13	26	economy	economy	NOUN
fbem-24666	13	27	.	.	PUNCT
fbem-24666	14	1	in	in	ADP
fbem-24666	14	2	2020	2020	NUM
fbem-24666	14	3	,	,	PUNCT
fbem-24666	14	4	the	the	DET
fbem-24666	14	5	u.s	u.s	PROPN
fbem-24666	14	6	.	.	PROPN
fbem-24666	14	7	federal	federal	ADJ
fbem-24666	14	8	fiscal	fiscal	ADJ
fbem-24666	14	9	deficit	deficit	NOUN
fbem-24666	14	10	reached	reach	VERB
fbem-24666	14	11	15	15	NUM
fbem-24666	14	12	%	%	NOUN
fbem-24666	14	13	of	of	ADP
fbem-24666	14	14	gdp	gdp	NOUN
fbem-24666	14	15	,	,	PUNCT
fbem-24666	14	16	the	the	DET
fbem-24666	14	17	federal	federal	PROPN
fbem-24666	14	18	reserve	reserve	PROPN
fbem-24666	14	19	lowered	lower	VERB
fbem-24666	14	20	the	the	DET
fbem-24666	14	21	federal	federal	ADJ
fbem-24666	14	22	funds	fund	NOUN
fbem-24666	14	23	rate	rate	NOUN
fbem-24666	14	24	to	to	ADP
fbem-24666	14	25	0	0	NUM
fbem-24666	14	26	-	-	SYM
fbem-24666	14	27	0.25	0.25	NUM
fbem-24666	14	28	%	%	NOUN
fbem-24666	14	29	,	,	PUNCT
fbem-24666	14	30	and	and	CCONJ
fbem-24666	14	31	expanded	expand	VERB
fbem-24666	14	32	its	its	PRON
fbem-24666	14	33	balance	balance	NOUN
fbem-24666	14	34	sheet	sheet	NOUN
fbem-24666	14	35	to	to	ADP
fbem-24666	14	36	over	over	ADP
fbem-24666	14	37	$	$	SYM
fbem-24666	14	38	8	8	NUM
fbem-24666	14	39	trillion	trillion	NUM
fbem-24666	14	40	.	.	PUNCT
fbem-24666	15	1	these	these	DET
fbem-24666	15	2	measures	measure	NOUN
fbem-24666	15	3	spurred	spur	VERB
fbem-24666	15	4	a	a	DET
fbem-24666	15	5	rapid	rapid	ADJ
fbem-24666	15	6	recovery	recovery	NOUN
fbem-24666	15	7	in	in	ADP
fbem-24666	15	8	the	the	DET
fbem-24666	15	9	u.s	u.s	PROPN
fbem-24666	15	10	.	.	PROPN
fbem-24666	15	11	economy	economy	NOUN
fbem-24666	15	12	,	,	PUNCT
fbem-24666	15	13	with	with	ADP
fbem-24666	15	14	a	a	DET
fbem-24666	15	15	5.6	5.6	NUM
fbem-24666	15	16	%	%	NOUN
fbem-24666	15	17	growth	growth	NOUN
fbem-24666	15	18	rate	rate	NOUN
fbem-24666	15	19	in	in	ADP
fbem-24666	15	20	2021	2021	NUM
fbem-24666	15	21	.	.	PUNCT
fbem-24666	16	1	however	however	ADV
fbem-24666	16	2	,	,	PUNCT
fbem-24666	16	3	as	as	SCONJ
fbem-24666	16	4	the	the	DET
fbem-24666	16	5	economy	economy	NOUN
fbem-24666	16	6	recovered	recover	VERB
fbem-24666	16	7	,	,	PUNCT
fbem-24666	16	8	inflation	inflation	NOUN
fbem-24666	16	9	and	and	CCONJ
fbem-24666	16	10	unemployment	unemployment	NOUN
fbem-24666	16	11	rates	rate	NOUN
fbem-24666	16	12	also	also	ADV
fbem-24666	16	13	changed	change	VERB
fbem-24666	16	14	significantly	significantly	ADV
fbem-24666	16	15	.	.	PUNCT
fbem-24666	17	1	by	by	ADP
fbem-24666	17	2	february	february	PROPN
fbem-24666	17	3	2022	2022	NUM
fbem-24666	17	4	,	,	PUNCT
fbem-24666	17	5	the	the	DET
fbem-24666	17	6	u.s	u.s	PROPN
fbem-24666	17	7	.	.	PROPN
fbem-24666	17	8	cpi	cpi	PROPN
fbem-24666	17	9	had	have	AUX
fbem-24666	17	10	risen	rise	VERB
fbem-24666	17	11	by	by	ADP
fbem-24666	17	12	7.9	7.9	NUM
fbem-24666	17	13	%	%	NOUN
fbem-24666	17	14	year	year	NOUN
fbem-24666	17	15	-	-	PUNCT
fbem-24666	17	16	over	over	ADP
fbem-24666	17	17	-	-	PUNCT
fbem-24666	17	18	year	year	NOUN
fbem-24666	17	19	,	,	PUNCT
fbem-24666	17	20	core	core	PROPN
fbem-24666	17	21	cpi	cpi	PROPN
fbem-24666	17	22	had	have	AUX
fbem-24666	17	23	increased	increase	VERB
fbem-24666	17	24	by	by	ADP
fbem-24666	17	25	6.4	6.4	NUM
fbem-24666	17	26	%	%	NOUN
fbem-24666	17	27	,	,	PUNCT
fbem-24666	17	28	and	and	CCONJ
fbem-24666	17	29	the	the	DET
fbem-24666	17	30	unemployment	unemployment	NOUN
fbem-24666	17	31	rate	rate	NOUN
fbem-24666	17	32	had	have	AUX
fbem-24666	17	33	dropped	drop	VERB
fbem-24666	17	34	to	to	ADP
fbem-24666	17	35	3.8	3.8	NUM
fbem-24666	17	36	%	%	NOUN
fbem-24666	17	37	.	.	PUNCT
fbem-24666	18	1	in	in	ADP
fbem-24666	18	2	response	response	NOUN
fbem-24666	18	3	to	to	ADP
fbem-24666	18	4	high	high	ADJ
fbem-24666	18	5	inflation	inflation	NOUN
fbem-24666	18	6	and	and	CCONJ
fbem-24666	18	7	a	a	DET
fbem-24666	18	8	tight	tight	ADJ
fbem-24666	18	9	labor	labor	NOUN
fbem-24666	18	10	market	market	NOUN
fbem-24666	18	11	,	,	PUNCT
fbem-24666	18	12	the	the	DET
fbem-24666	18	13	federal	federal	PROPN
fbem-24666	18	14	reserve	reserve	PROPN
fbem-24666	18	15	raised	raise	VERB
fbem-24666	18	16	the	the	DET
fbem-24666	18	17	federal	federal	ADJ
fbem-24666	18	18	funds	fund	NOUN
fbem-24666	18	19	rate	rate	NOUN
fbem-24666	18	20	in	in	ADP
fbem-24666	18	21	march	march	PROPN
fbem-24666	18	22	2022	2022	NUM
fbem-24666	18	23	,	,	PUNCT
fbem-24666	18	24	marking	mark	VERB
fbem-24666	18	25	the	the	DET
fbem-24666	18	26	start	start	NOUN
fbem-24666	18	27	of	of	ADP
fbem-24666	18	28	a	a	DET
fbem-24666	18	29	new	new	ADJ
fbem-24666	18	30	rate	rate	NOUN
fbem-24666	18	31	hike	hike	NOUN
fbem-24666	18	32	cycle	cycle	NOUN
fbem-24666	18	33	.	.	PUNCT
fbem-24666	19	1	examining	examine	VERB
fbem-24666	19	2	the	the	DET
fbem-24666	19	3	impact	impact	NOUN
fbem-24666	19	4	of	of	ADP
fbem-24666	19	5	this	this	DET
fbem-24666	19	6	round	round	NOUN
fbem-24666	19	7	of	of	ADP
fbem-24666	19	8	federal	federal	PROPN
fbem-24666	19	9	reserve	reserve	PROPN
fbem-24666	19	10	rate	rate	NOUN
fbem-24666	19	11	hikes	hike	NOUN
fbem-24666	19	12	on	on	ADP
fbem-24666	19	13	the	the	DET
fbem-24666	19	14	chinese	chinese	ADJ
fbem-24666	19	15	economy	economy	NOUN
fbem-24666	19	16	,	,	PUNCT
fbem-24666	19	17	particularly	particularly	ADV
fbem-24666	19	18	on	on	ADP
fbem-24666	19	19	inflationary	inflationary	ADJ
fbem-24666	19	20	pressure	pressure	NOUN
fbem-24666	19	21	,	,	PUNCT
fbem-24666	19	22	monetary	monetary	ADJ
fbem-24666	19	23	policy	policy	NOUN
fbem-24666	19	24	,	,	PUNCT
fbem-24666	19	25	rmb	rmb	NOUN
fbem-24666	19	26	exchange	exchange	NOUN
fbem-24666	19	27	rate	rate	NOUN
fbem-24666	19	28	,	,	PUNCT
fbem-24666	19	29	stock	stock	NOUN
fbem-24666	19	30	market	market	NOUN
fbem-24666	19	31	,	,	PUNCT
fbem-24666	19	32	foreign	foreign	ADJ
fbem-24666	19	33	trade	trade	NOUN
fbem-24666	19	34	,	,	PUNCT
fbem-24666	19	35	corporate	corporate	ADJ
fbem-24666	19	36	financing	financing	NOUN
fbem-24666	19	37	costs	cost	NOUN
fbem-24666	19	38	,	,	PUNCT
fbem-24666	19	39	and	and	CCONJ
fbem-24666	19	40	the	the	DET
fbem-24666	19	41	real	real	ADJ
fbem-24666	19	42	estate	estate	NOUN
fbem-24666	19	43	market	market	NOUN
fbem-24666	19	44	,	,	PUNCT
fbem-24666	19	45	is	be	AUX
fbem-24666	19	46	crucial	crucial	ADJ
fbem-24666	19	47	.	.	PUNCT
fbem-24666	20	1	this	this	DET
fbem-24666	20	2	study	study	NOUN
fbem-24666	20	3	aims	aim	VERB
fbem-24666	20	4	to	to	PART
fbem-24666	20	5	explore	explore	VERB
fbem-24666	20	6	these	these	DET
fbem-24666	20	7	effects	effect	NOUN
fbem-24666	20	8	indepth	indepth	ADJ
fbem-24666	20	9	and	and	CCONJ
fbem-24666	20	10	provide	provide	VERB
fbem-24666	20	11	relevant	relevant	ADJ
fbem-24666	20	12	policy	policy	NOUN
fbem-24666	20	13	recommendations	recommendation	NOUN
fbem-24666	20	14	.	.	PUNCT
fbem-24666	21	1	understanding	understand	VERB
fbem-24666	21	2	the	the	DET
fbem-24666	21	3	impact	impact	NOUN
fbem-24666	21	4	of	of	ADP
fbem-24666	21	5	federal	federal	ADJ
fbem-24666	21	6	reserve	reserve	PROPN
fbem-24666	21	7	rate	rate	NOUN
fbem-24666	21	8	hikes	hike	NOUN
fbem-24666	21	9	on	on	ADP
fbem-24666	21	10	the	the	DET
fbem-24666	21	11	chinese	chinese	ADJ
fbem-24666	21	12	economy	economy	NOUN
fbem-24666	21	13	is	be	AUX
fbem-24666	21	14	of	of	ADP
fbem-24666	21	15	significant	significant	ADJ
fbem-24666	21	16	importance	importance	NOUN
fbem-24666	21	17	.	.	PUNCT
fbem-24666	22	1	it	it	PRON
fbem-24666	22	2	can	can	AUX
fbem-24666	22	3	assist	assist	VERB
fbem-24666	22	4	policymakers	policymaker	NOUN
fbem-24666	22	5	and	and	CCONJ
fbem-24666	22	6	businesses	business	NOUN
fbem-24666	22	7	in	in	ADP
fbem-24666	22	8	anticipating	anticipate	VERB
fbem-24666	22	9	and	and	CCONJ
fbem-24666	22	10	responding	respond	VERB
fbem-24666	22	11	to	to	ADP
fbem-24666	22	12	future	future	ADJ
fbem-24666	22	13	rate	rate	NOUN
fbem-24666	22	14	hike	hike	NOUN
fbem-24666	22	15	shocks	shock	NOUN
fbem-24666	22	16	,	,	PUNCT
fbem-24666	22	17	flexibly	flexibly	ADV
fbem-24666	22	18	adjusting	adjust	VERB
fbem-24666	22	19	monetary	monetary	ADJ
fbem-24666	22	20	policy	policy	NOUN
fbem-24666	22	21	,	,	PUNCT
fbem-24666	22	22	understanding	understanding	NOUN
fbem-24666	22	23	and	and	CCONJ
fbem-24666	22	24	mitigating	mitigate	VERB
fbem-24666	22	25	financial	financial	ADJ
fbem-24666	22	26	market	market	NOUN
fbem-24666	22	27	risks	risk	NOUN
fbem-24666	22	28	,	,	PUNCT
fbem-24666	22	29	reducing	reduce	VERB
fbem-24666	22	30	dependence	dependence	NOUN
fbem-24666	22	31	on	on	ADP
fbem-24666	22	32	a	a	DET
fbem-24666	22	33	single	single	ADJ
fbem-24666	22	34	market	market	NOUN
fbem-24666	22	35	,	,	PUNCT
fbem-24666	22	36	and	and	CCONJ
fbem-24666	22	37	enhancing	enhance	VERB
fbem-24666	22	38	economic	economic	ADJ
fbem-24666	22	39	stability	stability	NOUN
fbem-24666	22	40	.	.	PUNCT
fbem-24666	23	1	by	by	ADP
fbem-24666	23	2	analyzing	analyze	VERB
fbem-24666	23	3	the	the	DET
fbem-24666	23	4	spillover	spillover	NOUN
fbem-24666	23	5	effects	effect	NOUN
fbem-24666	23	6	through	through	ADP
fbem-24666	23	7	a	a	DET
fbem-24666	23	8	vector	vector	NOUN
fbem-24666	23	9	autoregression	autoregression	NOUN
fbem-24666	23	10	(	(	PUNCT
fbem-24666	23	11	var	var	NOUN
fbem-24666	23	12	)	)	PUNCT
fbem-24666	23	13	model	model	NOUN
fbem-24666	23	14	,	,	PUNCT
fbem-24666	23	15	the	the	DET
fbem-24666	23	16	study	study	NOUN
fbem-24666	23	17	can	can	AUX
fbem-24666	23	18	summarize	summarize	VERB
fbem-24666	23	19	the	the	DET
fbem-24666	23	20	mechanisms	mechanism	NOUN
fbem-24666	23	21	of	of	ADP
fbem-24666	23	22	influence	influence	NOUN
fbem-24666	23	23	,	,	PUNCT
fbem-24666	23	24	providing	provide	VERB
fbem-24666	23	25	insights	insight	NOUN
fbem-24666	23	26	for	for	ADP
fbem-24666	23	27	policy	policy	NOUN
fbem-24666	23	28	formulation	formulation	NOUN
fbem-24666	23	29	and	and	CCONJ
fbem-24666	23	30	risk	risk	NOUN
fbem-24666	23	31	management	management	NOUN
fbem-24666	23	32	to	to	PART
fbem-24666	23	33	promote	promote	VERB
fbem-24666	23	34	economic	economic	ADJ
fbem-24666	23	35	stability	stability	NOUN
fbem-24666	23	36	and	and	CCONJ
fbem-24666	23	37	sustainable	sustainable	ADJ
fbem-24666	23	38	development	development	NOUN
fbem-24666	23	39	.	.	PUNCT
fbem-24666	24	1	2	2	X
fbem-24666	24	2	.	.	X
fbem-24666	24	3	literature	literature	NOUN
fbem-24666	24	4	review	review	NOUN
fbem-24666	24	5	in	in	ADP
fbem-24666	24	6	recent	recent	ADJ
fbem-24666	24	7	years	year	NOUN
fbem-24666	24	8	,	,	PUNCT
fbem-24666	24	9	research	research	NOUN
fbem-24666	24	10	on	on	ADP
fbem-24666	24	11	the	the	DET
fbem-24666	24	12	impact	impact	NOUN
fbem-24666	24	13	of	of	ADP
fbem-24666	24	14	federal	federal	ADJ
fbem-24666	24	15	reserve	reserve	PROPN
fbem-24666	24	16	interest	interest	NOUN
fbem-24666	24	17	rate	rate	NOUN
fbem-24666	24	18	hikes	hike	NOUN
fbem-24666	24	19	on	on	ADP
fbem-24666	24	20	the	the	DET
fbem-24666	24	21	global	global	ADJ
fbem-24666	24	22	economy	economy	NOUN
fbem-24666	24	23	,	,	PUNCT
fbem-24666	24	24	particularly	particularly	ADV
fbem-24666	24	25	the	the	DET
fbem-24666	24	26	chinese	chinese	ADJ
fbem-24666	24	27	economy	economy	NOUN
fbem-24666	24	28	,	,	PUNCT
fbem-24666	24	29	has	have	AUX
fbem-24666	24	30	garnered	garner	VERB
fbem-24666	24	31	significant	significant	ADJ
fbem-24666	24	32	attention	attention	NOUN
fbem-24666	24	33	in	in	ADP
fbem-24666	24	34	academic	academic	ADJ
fbem-24666	24	35	circles	circle	NOUN
fbem-24666	24	36	both	both	CCONJ
fbem-24666	24	37	domestically	domestically	ADV
fbem-24666	24	38	and	and	CCONJ
fbem-24666	24	39	internationally	internationally	ADV
fbem-24666	24	40	.	.	PUNCT
fbem-24666	25	1	bento	bento	PROPN
fbem-24666	25	2	j.	j.	PROPN
fbem-24666	25	3	lobo	lobo	PROPN
fbem-24666	25	4	's	's	PART
fbem-24666	25	5	study	study	NOUN
fbem-24666	25	6	,	,	PUNCT
fbem-24666	25	7	employing	employ	VERB
fbem-24666	25	8	the	the	DET
fbem-24666	25	9	asymmetric	asymmetric	ADJ
fbem-24666	25	10	self	self	NOUN
fbem-24666	25	11	-	-	PUNCT
fbem-24666	25	12	exciting	exciting	ADJ
fbem-24666	25	13	threshold	threshold	NOUN
fbem-24666	25	14	autoregressive	autoregressive	ADJ
fbem-24666	25	15	exponential	exponential	ADJ
fbem-24666	25	16	generalized	generalize	VERB
fbem-24666	25	17	autoregressive	autoregressive	ADJ
fbem-24666	25	18	conditional	conditional	ADJ
fbem-24666	25	19	heteroskedasticity	heteroskedasticity	NOUN
fbem-24666	25	20	(	(	PUNCT
fbem-24666	25	21	asaregarch	asaregarch	NOUN
fbem-24666	25	22	)	)	PUNCT
fbem-24666	25	23	model	model	NOUN
fbem-24666	25	24	,	,	PUNCT
fbem-24666	25	25	discovered	discover	VERB
fbem-24666	25	26	that	that	SCONJ
fbem-24666	25	27	announcements	announcement	NOUN
fbem-24666	25	28	of	of	ADP
fbem-24666	25	29	changes	change	NOUN
fbem-24666	25	30	in	in	ADP
fbem-24666	25	31	interest	interest	NOUN
fbem-24666	25	32	rate	rate	NOUN
fbem-24666	25	33	targets	target	NOUN
fbem-24666	25	34	convey	convey	VERB
fbem-24666	25	35	new	new	ADJ
fbem-24666	25	36	information	information	NOUN
fbem-24666	25	37	to	to	ADP
fbem-24666	25	38	the	the	DET
fbem-24666	25	39	stock	stock	NOUN
fbem-24666	25	40	market	market	NOUN
fbem-24666	25	41	.	.	PUNCT
fbem-24666	26	1	additionally	additionally	ADV
fbem-24666	26	2	,	,	PUNCT
fbem-24666	26	3	risk	risk	NOUN
fbem-24666	26	4	aversion	aversion	NOUN
fbem-24666	26	5	sentiment	sentiment	NOUN
fbem-24666	26	6	increases	increase	VERB
fbem-24666	26	7	before	before	ADP
fbem-24666	26	8	interest	interest	NOUN
fbem-24666	26	9	rate	rate	NOUN
fbem-24666	26	10	change	change	NOUN
fbem-24666	26	11	announcements	announcement	NOUN
fbem-24666	26	12	,	,	PUNCT
fbem-24666	26	13	especially	especially	ADV
fbem-24666	26	14	when	when	SCONJ
fbem-24666	26	15	both	both	DET
fbem-24666	26	16	target	target	NOUN
fbem-24666	26	17	rates	rate	NOUN
fbem-24666	26	18	and	and	CCONJ
fbem-24666	26	19	discount	discount	NOUN
fbem-24666	26	20	rates	rate	NOUN
fbem-24666	26	21	are	be	AUX
fbem-24666	26	22	announced	announce	VERB
fbem-24666	26	23	simultaneously	simultaneously	ADV
fbem-24666	26	24	[	[	X
fbem-24666	26	25	1	1	NUM
fbem-24666	26	26	]	]	PUNCT
fbem-24666	26	27	.	.	PUNCT
fbem-24666	27	1	marieh	marieh	PROPN
fbem-24666	27	2	azizirad	azizirad	PROPN
fbem-24666	27	3	's	's	PART
fbem-24666	27	4	research	research	NOUN
fbem-24666	27	5	,	,	PUNCT
fbem-24666	27	6	using	use	VERB
fbem-24666	27	7	time	time	NOUN
fbem-24666	27	8	-	-	PUNCT
fbem-24666	27	9	varying	vary	VERB
fbem-24666	27	10	structural	structural	ADJ
fbem-24666	27	11	vector	vector	NOUN
fbem-24666	27	12	autoregression	autoregression	NOUN
fbem-24666	27	13	and	and	CCONJ
fbem-24666	27	14	latent	latent	ADJ
fbem-24666	27	15	variable	variable	ADJ
fbem-24666	27	16	system	system	NOUN
fbem-24666	27	17	methods	method	NOUN
fbem-24666	27	18	,	,	PUNCT
fbem-24666	27	19	found	find	VERB
fbem-24666	27	20	that	that	SCONJ
fbem-24666	27	21	interest	interest	NOUN
fbem-24666	27	22	rate	rate	NOUN
fbem-24666	27	23	hikes	hike	NOUN
fbem-24666	27	24	have	have	VERB
fbem-24666	27	25	a	a	DET
fbem-24666	27	26	negative	negative	ADJ
fbem-24666	27	27	impact	impact	NOUN
fbem-24666	27	28	on	on	ADP
fbem-24666	27	29	short	short	ADJ
fbem-24666	27	30	-	-	PUNCT
fbem-24666	27	31	term	term	NOUN
fbem-24666	27	32	inflation	inflation	NOUN
fbem-24666	27	33	.	.	PUNCT
fbem-24666	28	1	in	in	ADP
fbem-24666	28	2	the	the	DET
fbem-24666	28	3	long	long	ADJ
fbem-24666	28	4	term	term	NOUN
fbem-24666	28	5	,	,	PUNCT
fbem-24666	28	6	however	however	ADV
fbem-24666	28	7	,	,	PUNCT
fbem-24666	28	8	inflation	inflation	NOUN
fbem-24666	28	9	and	and	CCONJ
fbem-24666	28	10	nominal	nominal	ADJ
fbem-24666	28	11	interest	interest	NOUN
fbem-24666	28	12	rates	rate	NOUN
fbem-24666	28	13	move	move	VERB
fbem-24666	28	14	in	in	ADP
fbem-24666	28	15	the	the	DET
fbem-24666	28	16	same	same	ADJ
fbem-24666	28	17	direction	direction	NOUN
fbem-24666	28	18	,	,	PUNCT
fbem-24666	28	19	though	though	SCONJ
fbem-24666	28	20	not	not	PART
fbem-24666	28	21	on	on	ADP
fbem-24666	28	22	a	a	DET
fbem-24666	28	23	one	one	NUM
fbem-24666	28	24	-	-	PUNCT
fbem-24666	28	25	to	to	ADP
fbem-24666	28	26	-	-	PUNCT
fbem-24666	28	27	one	one	NUM
fbem-24666	28	28	basis	basis	NOUN
fbem-24666	28	29	.	.	PUNCT
fbem-24666	29	1	this	this	DET
fbem-24666	29	2	finding	finding	NOUN
fbem-24666	29	3	contradicts	contradict	VERB
fbem-24666	29	4	the	the	DET
fbem-24666	29	5	predictions	prediction	NOUN
fbem-24666	29	6	of	of	ADP
fbem-24666	29	7	the	the	DET
fbem-24666	29	8	new	new	ADJ
fbem-24666	29	9	fisher	fisher	PROPN
fbem-24666	29	10	hypothesis	hypothesis	NOUN
fbem-24666	29	11	.	.	PUNCT
fbem-24666	30	1	furthermore	furthermore	ADV
fbem-24666	30	2	,	,	PUNCT
fbem-24666	30	3	her	her	PRON
fbem-24666	30	4	study	study	NOUN
fbem-24666	30	5	highlights	highlight	NOUN
fbem-24666	30	6	that	that	SCONJ
fbem-24666	30	7	from	from	ADP
fbem-24666	30	8	the	the	DET
fbem-24666	30	9	1950s	1950	NOUN
fbem-24666	30	10	to	to	ADP
fbem-24666	30	11	2016	2016	NUM
fbem-24666	30	12	,	,	PUNCT
fbem-24666	30	13	the	the	DET
fbem-24666	30	14	short	short	ADJ
fbem-24666	30	15	-	-	PUNCT
fbem-24666	30	16	term	term	NOUN
fbem-24666	30	17	and	and	CCONJ
fbem-24666	30	18	long	long	ADJ
fbem-24666	30	19	-	-	PUNCT
fbem-24666	30	20	term	term	NOUN
fbem-24666	30	21	interactions	interaction	NOUN
fbem-24666	30	22	of	of	ADP
fbem-24666	30	23	macroeconomic	macroeconomic	ADJ
fbem-24666	30	24	variables	variable	NOUN
fbem-24666	30	25	have	have	AUX
fbem-24666	30	26	changed	change	VERB
fbem-24666	30	27	,	,	PUNCT
fbem-24666	30	28	emphasizing	emphasize	VERB
fbem-24666	30	29	the	the	DET
fbem-24666	30	30	importance	importance	NOUN
fbem-24666	30	31	of	of	ADP
fbem-24666	30	32	near	near	ADJ
fbem-24666	30	33	-	-	PUNCT
fbem-24666	30	34	money	money	NOUN
fbem-24666	30	35	asset	asset	NOUN
fbem-24666	30	36	liquidity	liquidity	NOUN
fbem-24666	30	37	premiums	premium	NOUN
fbem-24666	30	38	in	in	ADP
fbem-24666	30	39	macroeconomic	macroeconomic	ADJ
fbem-24666	30	40	analysis	analysis	NOUN
fbem-24666	30	41	[	[	X
fbem-24666	30	42	2	2	NUM
fbem-24666	30	43	]	]	PUNCT
fbem-24666	30	44	.	.	PUNCT
fbem-24666	31	1	meanwhile	meanwhile	ADV
fbem-24666	31	2	,	,	PUNCT
fbem-24666	31	3	eiji	eiji	PROPN
fbem-24666	31	4	ogawa	ogawa	PROPN
fbem-24666	31	5	's	's	PART
fbem-24666	31	6	research	research	NOUN
fbem-24666	31	7	,	,	PUNCT
fbem-24666	31	8	using	use	VERB
fbem-24666	31	9	a	a	DET
fbem-24666	31	10	country	country	NOUN
fbem-24666	31	11	-	-	PUNCT
fbem-24666	31	12	specific	specific	ADJ
fbem-24666	31	13	vector	vector	NOUN
fbem-24666	31	14	autoregression	autoregression	NOUN
fbem-24666	31	15	(	(	PUNCT
fbem-24666	31	16	var	var	NOUN
fbem-24666	31	17	)	)	PUNCT
fbem-24666	31	18	model	model	NOUN
fbem-24666	31	19	,	,	PUNCT
fbem-24666	31	20	revealed	reveal	VERB
fbem-24666	31	21	that	that	SCONJ
fbem-24666	31	22	not	not	PART
fbem-24666	31	23	only	only	ADV
fbem-24666	31	24	pull	pull	VERB
fbem-24666	31	25	factors	factor	NOUN
fbem-24666	31	26	but	but	CCONJ
fbem-24666	31	27	also	also	ADV
fbem-24666	31	28	push	push	VERB
fbem-24666	31	29	factors	factor	NOUN
fbem-24666	31	30	such	such	ADJ
fbem-24666	31	31	as	as	ADP
fbem-24666	31	32	market	market	NOUN
fbem-24666	31	33	participants	participant	NOUN
fbem-24666	31	34	'	'	PART
fbem-24666	31	35	expectations	expectation	NOUN
fbem-24666	31	36	of	of	ADP
fbem-24666	31	37	u.s	u.s	PROPN
fbem-24666	31	38	.	.	PROPN
fbem-24666	31	39	interest	interest	NOUN
fbem-24666	31	40	rates	rate	NOUN
fbem-24666	31	41	and	and	CCONJ
fbem-24666	31	42	global	global	ADJ
fbem-24666	31	43	risk	risk	NOUN
fbem-24666	31	44	aversion	aversion	NOUN
fbem-24666	31	45	affect	affect	VERB
fbem-24666	31	46	capital	capital	NOUN
fbem-24666	31	47	flows	flow	NOUN
fbem-24666	31	48	in	in	ADP
fbem-24666	31	49	emerging	emerge	VERB
fbem-24666	31	50	market	market	NOUN
fbem-24666	31	51	countries	country	NOUN
fbem-24666	31	52	.	.	PUNCT
fbem-24666	32	1	84	84	NUM
fbem-24666	32	2	additionally	additionally	ADV
fbem-24666	32	3	,	,	PUNCT
fbem-24666	32	4	the	the	DET
fbem-24666	32	5	study	study	NOUN
fbem-24666	32	6	found	find	VERB
fbem-24666	32	7	that	that	SCONJ
fbem-24666	32	8	capital	capital	NOUN
fbem-24666	32	9	flows	flow	VERB
fbem-24666	32	10	among	among	ADP
fbem-24666	32	11	emerging	emerge	VERB
fbem-24666	32	12	market	market	NOUN
fbem-24666	32	13	countries	country	NOUN
fbem-24666	32	14	exhibit	exhibit	VERB
fbem-24666	32	15	widespread	widespread	ADJ
fbem-24666	32	16	contagion	contagion	NOUN
fbem-24666	32	17	effects	effect	NOUN
fbem-24666	32	18	[	[	X
fbem-24666	32	19	3	3	NUM
fbem-24666	32	20	]	]	PUNCT
fbem-24666	32	21	.	.	PUNCT
fbem-24666	33	1	in	in	ADP
fbem-24666	33	2	domestic	domestic	ADJ
fbem-24666	33	3	research	research	NOUN
fbem-24666	33	4	,	,	PUNCT
fbem-24666	33	5	shi	shi	PROPN
fbem-24666	33	6	yufan	yufan	PROPN
fbem-24666	33	7	et	et	PROPN
fbem-24666	33	8	al	al	PROPN
fbem-24666	33	9	.	.	PROPN
fbem-24666	34	1	(	(	PUNCT
fbem-24666	34	2	2023	2023	NUM
fbem-24666	34	3	)	)	PUNCT
fbem-24666	34	4	utilized	utilize	VERB
fbem-24666	34	5	the	the	DET
fbem-24666	34	6	vector	vector	NOUN
fbem-24666	34	7	autoregression	autoregression	NOUN
fbem-24666	34	8	(	(	PUNCT
fbem-24666	34	9	var	var	NOUN
fbem-24666	34	10	)	)	PUNCT
fbem-24666	34	11	model	model	NOUN
fbem-24666	34	12	to	to	PART
fbem-24666	34	13	explore	explore	VERB
fbem-24666	34	14	the	the	DET
fbem-24666	34	15	transmission	transmission	NOUN
fbem-24666	34	16	pathways	pathway	NOUN
fbem-24666	34	17	of	of	ADP
fbem-24666	34	18	spillover	spillover	NOUN
fbem-24666	34	19	effects	effect	NOUN
fbem-24666	34	20	from	from	ADP
fbem-24666	34	21	federal	federal	PROPN
fbem-24666	34	22	reserve	reserve	PROPN
fbem-24666	34	23	interest	interest	NOUN
fbem-24666	34	24	rate	rate	NOUN
fbem-24666	34	25	hikes	hike	NOUN
fbem-24666	34	26	from	from	ADP
fbem-24666	34	27	the	the	DET
fbem-24666	34	28	u.s	u.s	PROPN
fbem-24666	34	29	.	.	PROPN
fbem-24666	34	30	to	to	ADP
fbem-24666	34	31	china	china	PROPN
fbem-24666	35	1	[	[	X
fbem-24666	35	2	4	4	NUM
fbem-24666	35	3	]	]	PUNCT
fbem-24666	35	4	.	.	PUNCT
fbem-24666	36	1	the	the	DET
fbem-24666	36	2	results	result	NOUN
fbem-24666	36	3	indicated	indicate	VERB
fbem-24666	36	4	that	that	SCONJ
fbem-24666	36	5	the	the	DET
fbem-24666	36	6	spillover	spillover	NOUN
fbem-24666	36	7	effects	effect	NOUN
fbem-24666	36	8	mainly	mainly	ADV
fbem-24666	36	9	exert	exert	VERB
fbem-24666	36	10	pressure	pressure	NOUN
fbem-24666	36	11	on	on	ADP
fbem-24666	36	12	china	china	PROPN
fbem-24666	36	13	's	's	PART
fbem-24666	36	14	price	price	NOUN
fbem-24666	36	15	levels	level	NOUN
fbem-24666	36	16	through	through	ADP
fbem-24666	36	17	monetary	monetary	ADJ
fbem-24666	36	18	and	and	CCONJ
fbem-24666	36	19	exchange	exchange	NOUN
fbem-24666	36	20	rate	rate	NOUN
fbem-24666	36	21	channels	channel	NOUN
fbem-24666	36	22	,	,	PUNCT
fbem-24666	36	23	leading	lead	VERB
fbem-24666	36	24	to	to	ADP
fbem-24666	36	25	an	an	DET
fbem-24666	36	26	increase	increase	NOUN
fbem-24666	36	27	in	in	ADP
fbem-24666	36	28	china	china	PROPN
fbem-24666	36	29	's	's	PART
fbem-24666	36	30	foreign	foreign	ADJ
fbem-24666	36	31	exchange	exchange	NOUN
fbem-24666	36	32	reserves	reserve	NOUN
fbem-24666	36	33	and	and	CCONJ
fbem-24666	36	34	a	a	DET
fbem-24666	36	35	decline	decline	NOUN
fbem-24666	36	36	in	in	ADP
fbem-24666	36	37	the	the	DET
fbem-24666	36	38	three	three	NUM
fbem-24666	36	39	-	-	PUNCT
fbem-24666	36	40	year	year	NOUN
fbem-24666	36	41	government	government	NOUN
fbem-24666	36	42	bond	bond	NOUN
fbem-24666	36	43	yield	yield	NOUN
fbem-24666	36	44	.	.	PUNCT
fbem-24666	37	1	similarly	similarly	ADV
fbem-24666	37	2	,	,	PUNCT
fbem-24666	37	3	ma	ma	PROPN
fbem-24666	37	4	li	li	PROPN
fbem-24666	37	5	et	et	PROPN
fbem-24666	37	6	al	al	PROPN
fbem-24666	37	7	.	.	PROPN
fbem-24666	38	1	(	(	PUNCT
fbem-24666	38	2	2019	2019	NUM
fbem-24666	38	3	)	)	PUNCT
fbem-24666	38	4	employed	employ	VERB
fbem-24666	38	5	a	a	DET
fbem-24666	38	6	time	time	NOUN
fbem-24666	38	7	-	-	PUNCT
fbem-24666	38	8	varying	vary	VERB
fbem-24666	38	9	parameter	parameter	NOUN
fbem-24666	38	10	vector	vector	NOUN
fbem-24666	38	11	autoregression	autoregression	NOUN
fbem-24666	38	12	(	(	PUNCT
fbem-24666	38	13	tvp	tvp	NOUN
fbem-24666	38	14	-	-	PUNCT
fbem-24666	38	15	var	var	NOUN
fbem-24666	38	16	)	)	PUNCT
fbem-24666	38	17	model	model	NOUN
fbem-24666	38	18	,	,	PUNCT
fbem-24666	38	19	finding	find	VERB
fbem-24666	38	20	that	that	SCONJ
fbem-24666	38	21	u.s	u.s	PROPN
fbem-24666	38	22	.	.	PROPN
fbem-24666	38	23	interest	interest	NOUN
fbem-24666	38	24	rate	rate	NOUN
fbem-24666	38	25	hikes	hike	NOUN
fbem-24666	38	26	led	lead	VERB
fbem-24666	38	27	to	to	ADP
fbem-24666	38	28	a	a	DET
fbem-24666	38	29	decrease	decrease	NOUN
fbem-24666	38	30	in	in	ADP
fbem-24666	38	31	domestic	domestic	ADJ
fbem-24666	38	32	investment	investment	NOUN
fbem-24666	38	33	,	,	PUNCT
fbem-24666	38	34	reduced	reduce	VERB
fbem-24666	38	35	consumption	consumption	NOUN
fbem-24666	38	36	,	,	PUNCT
fbem-24666	38	37	and	and	CCONJ
fbem-24666	38	38	increased	increase	VERB
fbem-24666	38	39	imports	import	NOUN
fbem-24666	38	40	and	and	CCONJ
fbem-24666	38	41	exports	export	NOUN
fbem-24666	38	42	in	in	ADP
fbem-24666	38	43	china	china	PROPN
fbem-24666	38	44	,	,	PUNCT
fbem-24666	38	45	with	with	ADP
fbem-24666	38	46	chinese	chinese	ADJ
fbem-24666	38	47	firms	firm	NOUN
fbem-24666	38	48	bearing	bear	VERB
fbem-24666	38	49	more	more	ADJ
fbem-24666	38	50	pressure	pressure	NOUN
fbem-24666	38	51	than	than	ADP
fbem-24666	38	52	foreign	foreign	ADJ
fbem-24666	38	53	firms	firm	NOUN
fbem-24666	38	54	[	[	X
fbem-24666	38	55	5	5	NUM
fbem-24666	38	56	]	]	PUNCT
fbem-24666	38	57	.	.	PUNCT
fbem-24666	39	1	further	further	ADJ
fbem-24666	39	2	research	research	NOUN
fbem-24666	39	3	by	by	ADP
fbem-24666	39	4	liao	liao	PROPN
fbem-24666	39	5	guomin	guomin	PROPN
fbem-24666	39	6	et	et	PROPN
fbem-24666	39	7	al	al	PROPN
fbem-24666	39	8	.	.	PROPN
fbem-24666	40	1	(	(	PUNCT
fbem-24666	40	2	2019	2019	NUM
fbem-24666	40	3	)	)	PUNCT
fbem-24666	40	4	,	,	PUNCT
fbem-24666	40	5	based	base	VERB
fbem-24666	40	6	on	on	ADP
fbem-24666	40	7	the	the	DET
fbem-24666	40	8	computer	computer	NOUN
fbem-24666	40	9	communication	communication	NOUN
fbem-24666	40	10	electronics	electronic	NOUN
fbem-24666	40	11	industry	industry	NOUN
fbem-24666	40	12	,	,	PUNCT
fbem-24666	40	13	established	establish	VERB
fbem-24666	40	14	a	a	DET
fbem-24666	40	15	tvp	tvp	ADJ
fbem-24666	40	16	-	-	PUNCT
fbem-24666	40	17	svvar	svvar	NOUN
fbem-24666	40	18	model	model	NOUN
fbem-24666	40	19	to	to	PART
fbem-24666	40	20	analyze	analyze	VERB
fbem-24666	40	21	the	the	DET
fbem-24666	40	22	impact	impact	NOUN
fbem-24666	40	23	of	of	ADP
fbem-24666	40	24	federal	federal	ADJ
fbem-24666	40	25	reserve	reserve	PROPN
fbem-24666	40	26	interest	interest	NOUN
fbem-24666	40	27	rate	rate	NOUN
fbem-24666	40	28	hikes	hike	NOUN
fbem-24666	40	29	on	on	ADP
fbem-24666	40	30	china	china	PROPN
fbem-24666	40	31	's	's	PART
fbem-24666	40	32	computer	computer	NOUN
fbem-24666	40	33	communication	communication	NOUN
fbem-24666	40	34	electronics	electronic	NOUN
fbem-24666	40	35	industry	industry	NOUN
fbem-24666	40	36	,	,	PUNCT
fbem-24666	40	37	finding	find	VERB
fbem-24666	40	38	a	a	DET
fbem-24666	40	39	positive	positive	ADJ
fbem-24666	40	40	shock	shock	NOUN
fbem-24666	40	41	due	due	ADP
fbem-24666	40	42	to	to	ADP
fbem-24666	40	43	the	the	DET
fbem-24666	40	44	competitive	competitive	ADJ
fbem-24666	40	45	nature	nature	NOUN
fbem-24666	40	46	of	of	ADP
fbem-24666	40	47	the	the	DET
fbem-24666	40	48	industry	industry	NOUN
fbem-24666	40	49	between	between	ADP
fbem-24666	40	50	china	china	PROPN
fbem-24666	40	51	and	and	CCONJ
fbem-24666	40	52	the	the	DET
fbem-24666	40	53	u.s	u.s	PROPN
fbem-24666	40	54	.	.	PROPN
fbem-24666	41	1	[	[	X
fbem-24666	41	2	6	6	NUM
fbem-24666	41	3	]	]	PUNCT
fbem-24666	41	4	.	.	PUNCT
fbem-24666	42	1	tang	tang	PROPN
fbem-24666	42	2	jun	jun	PROPN
fbem-24666	42	3	(	(	PUNCT
fbem-24666	42	4	2019	2019	NUM
fbem-24666	42	5	)	)	PUNCT
fbem-24666	42	6	argued	argue	VERB
fbem-24666	42	7	that	that	SCONJ
fbem-24666	42	8	the	the	DET
fbem-24666	42	9	external	external	ADJ
fbem-24666	42	10	environment	environment	NOUN
fbem-24666	42	11	for	for	ADP
fbem-24666	42	12	china	china	PROPN
fbem-24666	42	13	's	's	PART
fbem-24666	42	14	economic	economic	ADJ
fbem-24666	42	15	development	development	NOUN
fbem-24666	42	16	would	would	AUX
fbem-24666	42	17	deteriorate	deteriorate	VERB
fbem-24666	42	18	,	,	PUNCT
fbem-24666	42	19	but	but	CCONJ
fbem-24666	42	20	china	china	PROPN
fbem-24666	42	21	could	could	AUX
fbem-24666	42	22	mitigate	mitigate	VERB
fbem-24666	42	23	this	this	DET
fbem-24666	42	24	crisis	crisis	NOUN
fbem-24666	42	25	by	by	ADP
fbem-24666	42	26	developing	develop	VERB
fbem-24666	42	27	and	and	CCONJ
fbem-24666	42	28	upgrading	upgrade	VERB
fbem-24666	42	29	its	its	PRON
fbem-24666	42	30	domestic	domestic	ADJ
fbem-24666	42	31	consumer	consumer	NOUN
fbem-24666	42	32	market	market	NOUN
fbem-24666	43	1	[	[	X
fbem-24666	43	2	7	7	NUM
fbem-24666	43	3	]	]	PUNCT
fbem-24666	43	4	.	.	PUNCT
fbem-24666	44	1	chen	chen	PROPN
fbem-24666	44	2	ru	ru	PROPN
fbem-24666	44	3	et	et	PROPN
fbem-24666	44	4	al	al	PROPN
fbem-24666	44	5	.	.	PROPN
fbem-24666	45	1	(	(	PUNCT
fbem-24666	45	2	2019	2019	NUM
fbem-24666	45	3	)	)	PUNCT
fbem-24666	45	4	analyzed	analyze	VERB
fbem-24666	45	5	the	the	DET
fbem-24666	45	6	dynamic	dynamic	ADJ
fbem-24666	45	7	relationships	relationship	NOUN
fbem-24666	45	8	among	among	ADP
fbem-24666	45	9	the	the	DET
fbem-24666	45	10	rmb	rmb	PROPN
fbem-24666	45	11	exchange	exchange	NOUN
fbem-24666	45	12	rate	rate	NOUN
fbem-24666	45	13	,	,	PUNCT
fbem-24666	45	14	monetary	monetary	ADJ
fbem-24666	45	15	policy	policy	NOUN
fbem-24666	45	16	,	,	PUNCT
fbem-24666	45	17	and	and	CCONJ
fbem-24666	45	18	stock	stock	NOUN
fbem-24666	45	19	market	market	NOUN
fbem-24666	45	20	,	,	PUNCT
fbem-24666	45	21	finding	find	VERB
fbem-24666	45	22	effective	effective	ADJ
fbem-24666	45	23	ways	way	NOUN
fbem-24666	45	24	to	to	PART
fbem-24666	45	25	curb	curb	VERB
fbem-24666	45	26	negative	negative	ADJ
fbem-24666	45	27	financial	financial	ADJ
fbem-24666	45	28	transmission	transmission	NOUN
fbem-24666	45	29	and	and	CCONJ
fbem-24666	45	30	seek	seek	VERB
fbem-24666	45	31	a	a	DET
fbem-24666	45	32	stable	stable	ADJ
fbem-24666	45	33	development	development	NOUN
fbem-24666	45	34	path	path	NOUN
fbem-24666	45	35	[	[	X
fbem-24666	45	36	8	8	NUM
fbem-24666	45	37	]	]	PUNCT
fbem-24666	45	38	.	.	PUNCT
fbem-24666	46	1	furthermore	furthermore	ADV
fbem-24666	46	2	,	,	PUNCT
fbem-24666	46	3	lü	lü	PROPN
fbem-24666	46	4	weiyi	weiyi	PROPN
fbem-24666	46	5	(	(	PUNCT
fbem-24666	46	6	2022	2022	NUM
fbem-24666	46	7	)	)	PUNCT
fbem-24666	46	8	analyzed	analyze	VERB
fbem-24666	46	9	the	the	DET
fbem-24666	46	10	negative	negative	ADJ
fbem-24666	46	11	impacts	impact	NOUN
fbem-24666	46	12	of	of	ADP
fbem-24666	46	13	federal	federal	ADJ
fbem-24666	46	14	reserve	reserve	PROPN
fbem-24666	46	15	interest	interest	NOUN
fbem-24666	46	16	rate	rate	NOUN
fbem-24666	46	17	hikes	hike	NOUN
fbem-24666	46	18	on	on	ADP
fbem-24666	46	19	china	china	PROPN
fbem-24666	46	20	's	's	PART
fbem-24666	46	21	economy	economy	NOUN
fbem-24666	46	22	and	and	CCONJ
fbem-24666	46	23	finance	finance	NOUN
fbem-24666	46	24	,	,	PUNCT
fbem-24666	46	25	such	such	ADJ
fbem-24666	46	26	as	as	ADP
fbem-24666	46	27	increased	increase	VERB
fbem-24666	46	28	financial	financial	ADJ
fbem-24666	46	29	risk	risk	NOUN
fbem-24666	46	30	,	,	PUNCT
fbem-24666	46	31	greater	great	ADJ
fbem-24666	46	32	difficulty	difficulty	NOUN
fbem-24666	46	33	in	in	ADP
fbem-24666	46	34	monetary	monetary	ADJ
fbem-24666	46	35	policy	policy	NOUN
fbem-24666	46	36	control	control	NOUN
fbem-24666	46	37	,	,	PUNCT
fbem-24666	46	38	and	and	CCONJ
fbem-24666	46	39	rising	rise	VERB
fbem-24666	46	40	rmb	rmb	NOUN
fbem-24666	46	41	depreciation	depreciation	NOUN
fbem-24666	46	42	pressure	pressure	NOUN
fbem-24666	46	43	[	[	X
fbem-24666	46	44	9	9	NUM
fbem-24666	46	45	]	]	PUNCT
fbem-24666	46	46	.	.	PUNCT
fbem-24666	47	1	the	the	DET
fbem-24666	47	2	impact	impact	NOUN
fbem-24666	47	3	of	of	ADP
fbem-24666	47	4	federal	federal	ADJ
fbem-24666	47	5	reserve	reserve	PROPN
fbem-24666	47	6	rate	rate	NOUN
fbem-24666	47	7	hikes	hike	NOUN
fbem-24666	47	8	on	on	ADP
fbem-24666	47	9	the	the	DET
fbem-24666	47	10	global	global	ADJ
fbem-24666	47	11	economy	economy	NOUN
fbem-24666	47	12	,	,	PUNCT
fbem-24666	47	13	particularly	particularly	ADV
fbem-24666	47	14	the	the	DET
fbem-24666	47	15	chinese	chinese	ADJ
fbem-24666	47	16	economy	economy	NOUN
fbem-24666	47	17	,	,	PUNCT
fbem-24666	47	18	is	be	AUX
fbem-24666	47	19	multifaceted	multifacete	VERB
fbem-24666	47	20	,	,	PUNCT
fbem-24666	47	21	involving	involve	VERB
fbem-24666	47	22	macroeconomic	macroeconomic	ADJ
fbem-24666	47	23	indicators	indicator	NOUN
fbem-24666	47	24	,	,	PUNCT
fbem-24666	47	25	financial	financial	ADJ
fbem-24666	47	26	markets	market	NOUN
fbem-24666	47	27	,	,	PUNCT
fbem-24666	47	28	and	and	CCONJ
fbem-24666	47	29	corporate	corporate	ADJ
fbem-24666	47	30	pressures	pressure	NOUN
fbem-24666	47	31	.	.	PUNCT
fbem-24666	48	1	these	these	DET
fbem-24666	48	2	hikes	hike	NOUN
fbem-24666	48	3	transmit	transmit	VERB
fbem-24666	48	4	to	to	ADP
fbem-24666	48	5	china	china	PROPN
fbem-24666	48	6	through	through	ADP
fbem-24666	48	7	channels	channel	NOUN
fbem-24666	48	8	such	such	ADJ
fbem-24666	48	9	as	as	ADP
fbem-24666	48	10	monetary	monetary	ADJ
fbem-24666	48	11	policy	policy	NOUN
fbem-24666	48	12	,	,	PUNCT
fbem-24666	48	13	exchange	exchange	NOUN
fbem-24666	48	14	rates	rate	NOUN
fbem-24666	48	15	,	,	PUNCT
fbem-24666	48	16	and	and	CCONJ
fbem-24666	48	17	capital	capital	NOUN
fbem-24666	48	18	flows	flow	NOUN
fbem-24666	48	19	,	,	PUNCT
fbem-24666	48	20	resulting	result	VERB
fbem-24666	48	21	in	in	ADP
fbem-24666	48	22	changes	change	NOUN
fbem-24666	48	23	in	in	ADP
fbem-24666	48	24	investment	investment	NOUN
fbem-24666	48	25	,	,	PUNCT
fbem-24666	48	26	consumption	consumption	NOUN
fbem-24666	48	27	,	,	PUNCT
fbem-24666	48	28	and	and	CCONJ
fbem-24666	48	29	trade	trade	NOUN
fbem-24666	48	30	,	,	PUNCT
fbem-24666	48	31	thereby	thereby	ADV
fbem-24666	48	32	exerting	exert	VERB
fbem-24666	48	33	significant	significant	ADJ
fbem-24666	48	34	pressure	pressure	NOUN
fbem-24666	48	35	on	on	ADP
fbem-24666	48	36	chinese	chinese	ADJ
fbem-24666	48	37	enterprises	enterprise	NOUN
fbem-24666	48	38	.	.	PUNCT
fbem-24666	49	1	these	these	DET
fbem-24666	49	2	studies	study	NOUN
fbem-24666	49	3	provide	provide	VERB
fbem-24666	49	4	valuable	valuable	ADJ
fbem-24666	49	5	theoretical	theoretical	ADJ
fbem-24666	49	6	and	and	CCONJ
fbem-24666	49	7	empirical	empirical	ADJ
fbem-24666	49	8	support	support	NOUN
fbem-24666	49	9	for	for	ADP
fbem-24666	49	10	china	china	PROPN
fbem-24666	49	11	in	in	ADP
fbem-24666	49	12	responding	respond	VERB
fbem-24666	49	13	to	to	ADP
fbem-24666	49	14	federal	federal	ADJ
fbem-24666	49	15	reserve	reserve	NOUN
fbem-24666	49	16	rate	rate	NOUN
fbem-24666	49	17	hikes	hike	NOUN
fbem-24666	49	18	,	,	PUNCT
fbem-24666	49	19	assisting	assist	VERB
fbem-24666	49	20	policymakers	policymaker	NOUN
fbem-24666	49	21	and	and	CCONJ
fbem-24666	49	22	businesses	business	NOUN
fbem-24666	49	23	in	in	ADP
fbem-24666	49	24	taking	take	VERB
fbem-24666	49	25	effective	effective	ADJ
fbem-24666	49	26	measures	measure	NOUN
fbem-24666	49	27	to	to	PART
fbem-24666	49	28	maintain	maintain	VERB
fbem-24666	49	29	economic	economic	ADJ
fbem-24666	49	30	stability	stability	NOUN
fbem-24666	49	31	and	and	CCONJ
fbem-24666	49	32	sustainable	sustainable	ADJ
fbem-24666	49	33	development	development	NOUN
fbem-24666	49	34	.	.	PUNCT
fbem-24666	50	1	3	3	X
fbem-24666	50	2	.	.	X
fbem-24666	50	3	empirical	empirical	ADJ
fbem-24666	50	4	research	research	NOUN
fbem-24666	50	5	the	the	DET
fbem-24666	50	6	study	study	NOUN
fbem-24666	50	7	references	reference	VERB
fbem-24666	50	8	the	the	DET
fbem-24666	50	9	variable	variable	ADJ
fbem-24666	50	10	selection	selection	NOUN
fbem-24666	50	11	and	and	CCONJ
fbem-24666	50	12	model	model	NOUN
fbem-24666	50	13	construction	construction	NOUN
fbem-24666	50	14	methods	method	NOUN
fbem-24666	50	15	of	of	ADP
fbem-24666	50	16	yang	yang	PROPN
fbem-24666	50	17	yaoxian	yaoxian	PROPN
fbem-24666	50	18	(	(	PUNCT
fbem-24666	50	19	2020	2020	NUM
fbem-24666	50	20	)	)	PUNCT
fbem-24666	50	21	,	,	PUNCT
fbem-24666	50	22	choosing	choose	VERB
fbem-24666	50	23	u.s	u.s	PROPN
fbem-24666	50	24	.	.	PROPN
fbem-24666	50	25	interest	interest	NOUN
fbem-24666	50	26	rates	rate	NOUN
fbem-24666	50	27	,	,	PUNCT
fbem-24666	50	28	chinese	chinese	ADJ
fbem-24666	50	29	output	output	NOUN
fbem-24666	50	30	,	,	PUNCT
fbem-24666	50	31	interest	interest	NOUN
fbem-24666	50	32	rates	rate	NOUN
fbem-24666	50	33	,	,	PUNCT
fbem-24666	50	34	exchange	exchange	NOUN
fbem-24666	50	35	rates	rate	NOUN
fbem-24666	50	36	,	,	PUNCT
fbem-24666	50	37	foreign	foreign	ADJ
fbem-24666	50	38	trade	trade	NOUN
fbem-24666	50	39	volume	volume	NOUN
fbem-24666	50	40	,	,	PUNCT
fbem-24666	50	41	and	and	CCONJ
fbem-24666	50	42	stock	stock	NOUN
fbem-24666	50	43	market	market	NOUN
fbem-24666	50	44	prices	price	NOUN
fbem-24666	50	45	as	as	ADP
fbem-24666	50	46	variables	variable	NOUN
fbem-24666	50	47	[	[	X
fbem-24666	50	48	10	10	NUM
fbem-24666	50	49	]	]	PUNCT
fbem-24666	50	50	.	.	PUNCT
fbem-24666	51	1	model	model	NOUN
fbem-24666	51	2	one	one	PRON
fbem-24666	51	3	is	be	AUX
fbem-24666	51	4	structured	structure	VERB
fbem-24666	51	5	based	base	VERB
fbem-24666	51	6	on	on	ADP
fbem-24666	51	7	the	the	DET
fbem-24666	51	8	exogeneity	exogeneity	NOUN
fbem-24666	51	9	of	of	ADP
fbem-24666	51	10	the	the	DET
fbem-24666	51	11	variables	variable	NOUN
fbem-24666	51	12	in	in	ADP
fbem-24666	51	13	the	the	DET
fbem-24666	51	14	order	order	NOUN
fbem-24666	51	15	of	of	ADP
fbem-24666	51	16	fer	fer	PROPN
fbem-24666	51	17	,	,	PUNCT
fbem-24666	51	18	shibor	shibor	NOUN
fbem-24666	51	19	,	,	PUNCT
fbem-24666	51	20	usdcny	usdcny	PROPN
fbem-24666	51	21	,	,	PUNCT
fbem-24666	51	22	and	and	CCONJ
fbem-24666	51	23	gdp	gdp	NOUN
fbem-24666	51	24	to	to	PART
fbem-24666	51	25	analyze	analyze	VERB
fbem-24666	51	26	the	the	DET
fbem-24666	51	27	impact	impact	NOUN
fbem-24666	51	28	of	of	ADP
fbem-24666	51	29	federal	federal	ADJ
fbem-24666	51	30	reserve	reserve	PROPN
fbem-24666	51	31	rate	rate	NOUN
fbem-24666	51	32	hikes	hike	NOUN
fbem-24666	51	33	on	on	ADP
fbem-24666	51	34	chinese	chinese	ADJ
fbem-24666	51	35	output	output	NOUN
fbem-24666	51	36	.	.	PUNCT
fbem-24666	52	1	model	model	NOUN
fbem-24666	52	2	two	two	NUM
fbem-24666	52	3	examines	examine	VERB
fbem-24666	52	4	the	the	DET
fbem-24666	52	5	impact	impact	NOUN
fbem-24666	52	6	of	of	ADP
fbem-24666	52	7	federal	federal	ADJ
fbem-24666	52	8	reserve	reserve	PROPN
fbem-24666	52	9	rate	rate	NOUN
fbem-24666	52	10	hikes	hike	NOUN
fbem-24666	52	11	on	on	ADP
fbem-24666	52	12	china	china	PROPN
fbem-24666	52	13	's	's	PART
fbem-24666	52	14	foreign	foreign	ADJ
fbem-24666	52	15	trade	trade	NOUN
fbem-24666	52	16	and	and	CCONJ
fbem-24666	52	17	capital	capital	NOUN
fbem-24666	52	18	market	market	NOUN
fbem-24666	52	19	prices	price	NOUN
fbem-24666	52	20	,	,	PUNCT
fbem-24666	52	21	constructed	construct	VERB
fbem-24666	52	22	according	accord	VERB
fbem-24666	52	23	to	to	ADP
fbem-24666	52	24	the	the	DET
fbem-24666	52	25	exogeneity	exogeneity	NOUN
fbem-24666	52	26	of	of	ADP
fbem-24666	52	27	the	the	DET
fbem-24666	52	28	variables	variable	NOUN
fbem-24666	52	29	in	in	ADP
fbem-24666	52	30	the	the	DET
fbem-24666	52	31	order	order	NOUN
fbem-24666	52	32	of	of	ADP
fbem-24666	52	33	fer	fer	PROPN
fbem-24666	52	34	,	,	PUNCT
fbem-24666	52	35	shibor	shibor	NOUN
fbem-24666	52	36	,	,	PUNCT
fbem-24666	52	37	usdcny	usdcny	PROPN
fbem-24666	52	38	,	,	PUNCT
fbem-24666	52	39	ne	ne	PROPN
fbem-24666	52	40	,	,	PUNCT
fbem-24666	52	41	and	and	CCONJ
fbem-24666	52	42	si	si	INTJ
fbem-24666	52	43	.	.	PROPN
fbem-24666	53	1	although	although	SCONJ
fbem-24666	53	2	the	the	DET
fbem-24666	53	3	models	model	NOUN
fbem-24666	53	4	primarily	primarily	ADV
fbem-24666	53	5	use	use	VERB
fbem-24666	53	6	weekly	weekly	ADJ
fbem-24666	53	7	data	datum	NOUN
fbem-24666	53	8	,	,	PUNCT
fbem-24666	53	9	some	some	DET
fbem-24666	53	10	variables	variable	NOUN
fbem-24666	53	11	are	be	AUX
fbem-24666	53	12	only	only	ADV
fbem-24666	53	13	available	available	ADJ
fbem-24666	53	14	on	on	ADP
fbem-24666	53	15	a	a	DET
fbem-24666	53	16	monthly	monthly	ADJ
fbem-24666	53	17	or	or	CCONJ
fbem-24666	53	18	quarterly	quarterly	ADJ
fbem-24666	53	19	basis	basis	NOUN
fbem-24666	53	20	;	;	PUNCT
fbem-24666	53	21	hence	hence	ADV
fbem-24666	53	22	,	,	PUNCT
fbem-24666	53	23	these	these	DET
fbem-24666	53	24	data	datum	NOUN
fbem-24666	53	25	have	have	AUX
fbem-24666	53	26	been	be	AUX
fbem-24666	53	27	expanded	expand	VERB
fbem-24666	53	28	to	to	ADP
fbem-24666	53	29	a	a	DET
fbem-24666	53	30	weekly	weekly	ADJ
fbem-24666	53	31	frequency	frequency	NOUN
fbem-24666	53	32	to	to	PART
fbem-24666	53	33	extend	extend	VERB
fbem-24666	53	34	the	the	DET
fbem-24666	53	35	panel	panel	NOUN
fbem-24666	53	36	length	length	NOUN
fbem-24666	53	37	.	.	PUNCT
fbem-24666	54	1	the	the	DET
fbem-24666	54	2	data	datum	NOUN
fbem-24666	54	3	utilized	utilize	VERB
fbem-24666	54	4	in	in	ADP
fbem-24666	54	5	this	this	DET
fbem-24666	54	6	study	study	NOUN
fbem-24666	54	7	are	be	AUX
fbem-24666	54	8	primarily	primarily	ADV
fbem-24666	54	9	sourced	source	VERB
fbem-24666	54	10	from	from	ADP
fbem-24666	54	11	the	the	DET
fbem-24666	54	12	federal	federal	PROPN
fbem-24666	54	13	reserve	reserve	PROPN
fbem-24666	54	14	's	's	PART
fbem-24666	54	15	official	official	ADJ
fbem-24666	54	16	website	website	NOUN
fbem-24666	54	17	,	,	PUNCT
fbem-24666	54	18	the	the	DET
fbem-24666	54	19	national	national	PROPN
fbem-24666	54	20	bureau	bureau	PROPN
fbem-24666	54	21	of	of	ADP
fbem-24666	54	22	statistics	statistic	NOUN
fbem-24666	54	23	of	of	ADP
fbem-24666	54	24	china	china	PROPN
fbem-24666	54	25	,	,	PUNCT
fbem-24666	54	26	the	the	DET
fbem-24666	54	27	resset	resset	NOUN
fbem-24666	54	28	database	database	NOUN
fbem-24666	54	29	,	,	PUNCT
fbem-24666	54	30	the	the	DET
fbem-24666	54	31	china	china	PROPN
fbem-24666	54	32	economic	economic	PROPN
fbem-24666	54	33	information	information	NOUN
fbem-24666	54	34	network	network	NOUN
fbem-24666	54	35	statistical	statistical	ADJ
fbem-24666	54	36	database	database	NOUN
fbem-24666	54	37	,	,	PUNCT
fbem-24666	54	38	and	and	CCONJ
fbem-24666	54	39	the	the	DET
fbem-24666	54	40	general	general	ADJ
fbem-24666	54	41	administration	administration	NOUN
fbem-24666	54	42	of	of	ADP
fbem-24666	54	43	customs	custom	NOUN
fbem-24666	54	44	of	of	ADP
fbem-24666	54	45	china	china	PROPN
fbem-24666	54	46	.	.	PUNCT
fbem-24666	55	1	the	the	DET
fbem-24666	55	2	study	study	NOUN
fbem-24666	55	3	analyzes	analyze	VERB
fbem-24666	55	4	the	the	DET
fbem-24666	55	5	impact	impact	NOUN
fbem-24666	55	6	of	of	ADP
fbem-24666	55	7	the	the	DET
fbem-24666	55	8	federal	federal	PROPN
fbem-24666	55	9	reserve	reserve	PROPN
fbem-24666	55	10	's	's	PART
fbem-24666	55	11	new	new	ADJ
fbem-24666	55	12	rate	rate	NOUN
fbem-24666	55	13	hike	hike	NOUN
fbem-24666	55	14	cycle	cycle	NOUN
fbem-24666	55	15	on	on	ADP
fbem-24666	55	16	key	key	ADJ
fbem-24666	55	17	economic	economic	ADJ
fbem-24666	55	18	variables	variable	NOUN
fbem-24666	55	19	in	in	ADP
fbem-24666	55	20	china	china	PROPN
fbem-24666	55	21	,	,	PUNCT
fbem-24666	55	22	including	include	VERB
fbem-24666	55	23	output	output	NOUN
fbem-24666	55	24	,	,	PUNCT
fbem-24666	55	25	interest	interest	NOUN
fbem-24666	55	26	rates	rate	NOUN
fbem-24666	55	27	,	,	PUNCT
fbem-24666	55	28	exchange	exchange	NOUN
fbem-24666	55	29	rates	rate	NOUN
fbem-24666	55	30	,	,	PUNCT
fbem-24666	55	31	foreign	foreign	ADJ
fbem-24666	55	32	trade	trade	NOUN
fbem-24666	55	33	,	,	PUNCT
fbem-24666	55	34	and	and	CCONJ
fbem-24666	55	35	stock	stock	NOUN
fbem-24666	55	36	market	market	NOUN
fbem-24666	55	37	prices	price	NOUN
fbem-24666	55	38	.	.	PUNCT
fbem-24666	56	1	the	the	DET
fbem-24666	56	2	data	data	NOUN
fbem-24666	56	3	sample	sample	NOUN
fbem-24666	56	4	spans	span	NOUN
fbem-24666	56	5	from	from	ADP
fbem-24666	56	6	march	march	PROPN
fbem-24666	56	7	2022	2022	NUM
fbem-24666	56	8	to	to	ADP
fbem-24666	56	9	september	september	PROPN
fbem-24666	56	10	2023	2023	NUM
fbem-24666	56	11	,	,	PUNCT
fbem-24666	56	12	using	use	VERB
fbem-24666	56	13	monthly	monthly	ADJ
fbem-24666	56	14	data	datum	NOUN
fbem-24666	56	15	for	for	ADP
fbem-24666	56	16	analysis	analysis	NOUN
fbem-24666	56	17	.	.	PUNCT
fbem-24666	57	1	in	in	ADP
fbem-24666	57	2	the	the	DET
fbem-24666	57	3	empirical	empirical	ADJ
fbem-24666	57	4	models	model	NOUN
fbem-24666	57	5	,	,	PUNCT
fbem-24666	57	6	logarithmic	logarithmic	ADJ
fbem-24666	57	7	transformations	transformation	NOUN
fbem-24666	57	8	are	be	AUX
fbem-24666	57	9	applied	apply	VERB
fbem-24666	57	10	to	to	ADP
fbem-24666	57	11	china	china	PROPN
fbem-24666	57	12	's	's	PART
fbem-24666	57	13	gdp	gdp	NOUN
fbem-24666	57	14	,	,	PUNCT
fbem-24666	57	15	the	the	DET
fbem-24666	57	16	usd	usd	PROPN
fbem-24666	57	17	/	/	SYM
fbem-24666	57	18	cny	cny	NOUN
fbem-24666	57	19	exchange	exchange	NOUN
fbem-24666	57	20	rate	rate	NOUN
fbem-24666	57	21	,	,	PUNCT
fbem-24666	57	22	china	china	PROPN
fbem-24666	57	23	's	's	PART
fbem-24666	57	24	net	net	ADJ
fbem-24666	57	25	export	export	NOUN
fbem-24666	57	26	volume	volume	NOUN
fbem-24666	57	27	,	,	PUNCT
fbem-24666	57	28	and	and	CCONJ
fbem-24666	57	29	the	the	DET
fbem-24666	57	30	shanghai	shanghai	PROPN
fbem-24666	57	31	composite	composite	PROPN
fbem-24666	57	32	index	index	NOUN
fbem-24666	57	33	,	,	PUNCT
fbem-24666	57	34	preserving	preserve	VERB
fbem-24666	57	35	the	the	DET
fbem-24666	57	36	negative	negative	ADJ
fbem-24666	57	37	signs	sign	NOUN
fbem-24666	57	38	in	in	ADP
fbem-24666	57	39	the	the	DET
fbem-24666	57	40	logarithmic	logarithmic	ADJ
fbem-24666	57	41	transformation	transformation	NOUN
fbem-24666	57	42	of	of	ADP
fbem-24666	57	43	net	net	ADJ
fbem-24666	57	44	export	export	NOUN
fbem-24666	57	45	data	datum	NOUN
fbem-24666	57	46	.	.	PUNCT
fbem-24666	58	1	table	table	NOUN
fbem-24666	58	2	1	1	NUM
fbem-24666	58	3	.	.	PUNCT
fbem-24666	59	1	variable	variable	ADJ
fbem-24666	59	2	symbols	symbol	NOUN
fbem-24666	59	3	variable	variable	ADJ
fbem-24666	59	4	variable	variable	ADJ
fbem-24666	59	5	meaning	mean	VERB
fbem-24666	59	6	explanation	explanation	NOUN
fbem-24666	59	7	fer	fer	PROPN
fbem-24666	59	8	federal	federal	ADJ
fbem-24666	59	9	funds	funds	PROPN
fbem-24666	59	10	rate	rate	PROPN
fbem-24666	59	11	fer	fer	PROPN
fbem-24666	59	12	represents	represent	VERB
fbem-24666	59	13	the	the	DET
fbem-24666	59	14	u.s	u.s	PROPN
fbem-24666	59	15	.	.	PROPN
fbem-24666	59	16	interest	interest	NOUN
fbem-24666	59	17	rate	rate	NOUN
fbem-24666	59	18	variable	variable	NOUN
fbem-24666	59	19	.	.	PUNCT
fbem-24666	60	1	source	source	NOUN
fbem-24666	60	2	:	:	PUNCT
fbem-24666	60	3	federal	federal	PROPN
fbem-24666	60	4	reserve	reserve	PROPN
fbem-24666	60	5	's	's	PART
fbem-24666	60	6	official	official	ADJ
fbem-24666	60	7	website	website	NOUN
fbem-24666	60	8	.	.	PUNCT
fbem-24666	61	1	gdp	gdp	PROPN
fbem-24666	61	2	chinese	chinese	PROPN
fbem-24666	61	3	output	output	PROPN
fbem-24666	61	4	gdp	gdp	NOUN
fbem-24666	61	5	is	be	AUX
fbem-24666	61	6	the	the	DET
fbem-24666	61	7	best	good	ADJ
fbem-24666	61	8	indicator	indicator	NOUN
fbem-24666	61	9	of	of	ADP
fbem-24666	61	10	national	national	ADJ
fbem-24666	61	11	output	output	NOUN
fbem-24666	61	12	.	.	PUNCT
fbem-24666	62	1	source	source	NOUN
fbem-24666	62	2	:	:	PUNCT
fbem-24666	62	3	national	national	PROPN
fbem-24666	62	4	bureau	bureau	PROPN
fbem-24666	62	5	of	of	ADP
fbem-24666	62	6	statistics	statistic	NOUN
fbem-24666	62	7	of	of	ADP
fbem-24666	62	8	china	china	PROPN
fbem-24666	62	9	.	.	PUNCT
fbem-24666	63	1	shibor	shibor	PROPN
fbem-24666	63	2	shanghai	shanghai	PROPN
fbem-24666	63	3	interbank	interbank	ADV
fbem-24666	63	4	offered	offer	VERB
fbem-24666	63	5	rate	rate	NOUN
fbem-24666	63	6	(	(	PUNCT
fbem-24666	63	7	interest	interest	NOUN
fbem-24666	63	8	rate	rate	NOUN
fbem-24666	63	9	)	)	PUNCT
fbem-24666	63	10	the	the	DET
fbem-24666	63	11	1	1	NUM
fbem-24666	63	12	-	-	PUNCT
fbem-24666	63	13	year	year	NOUN
fbem-24666	63	14	shibor	shibor	NOUN
fbem-24666	63	15	is	be	AUX
fbem-24666	63	16	used	use	VERB
fbem-24666	63	17	to	to	PART
fbem-24666	63	18	represent	represent	VERB
fbem-24666	63	19	china	china	PROPN
fbem-24666	63	20	's	's	PART
fbem-24666	63	21	interest	interest	NOUN
fbem-24666	63	22	rate	rate	NOUN
fbem-24666	63	23	variable	variable	NOUN
fbem-24666	63	24	,	,	PUNCT
fbem-24666	63	25	corresponding	correspond	VERB
fbem-24666	63	26	to	to	ADP
fbem-24666	63	27	the	the	DET
fbem-24666	63	28	u.s	u.s	PROPN
fbem-24666	63	29	.	.	PROPN
fbem-24666	63	30	federal	federal	ADJ
fbem-24666	63	31	funds	fund	NOUN
fbem-24666	63	32	rate	rate	NOUN
fbem-24666	63	33	.	.	PUNCT
fbem-24666	64	1	source	source	NOUN
fbem-24666	64	2	:	:	PUNCT
fbem-24666	64	3	resset	resset	PROPN
fbem-24666	64	4	.	.	PUNCT
fbem-24666	65	1	usdcny	usdcny	PROPN
fbem-24666	65	2	usd	usd	PROPN
fbem-24666	65	3	/	/	SYM
fbem-24666	65	4	cny	cny	PROPN
fbem-24666	65	5	exchange	exchange	NOUN
fbem-24666	65	6	rate	rate	NOUN
fbem-24666	65	7	the	the	DET
fbem-24666	65	8	usd	usd	NOUN
fbem-24666	65	9	/	/	SYM
fbem-24666	65	10	cny	cny	NOUN
fbem-24666	65	11	exchange	exchange	NOUN
fbem-24666	65	12	rate	rate	NOUN
fbem-24666	65	13	is	be	AUX
fbem-24666	65	14	selected	select	VERB
fbem-24666	65	15	as	as	ADP
fbem-24666	65	16	the	the	DET
fbem-24666	65	17	representative	representative	ADJ
fbem-24666	65	18	variable	variable	NOUN
fbem-24666	65	19	for	for	ADP
fbem-24666	65	20	exchange	exchange	NOUN
fbem-24666	65	21	rates	rate	NOUN
fbem-24666	65	22	.	.	PUNCT
fbem-24666	66	1	source	source	NOUN
fbem-24666	66	2	:	:	PUNCT
fbem-24666	66	3	china	china	PROPN
fbem-24666	66	4	economic	economic	PROPN
fbem-24666	66	5	information	information	NOUN
fbem-24666	66	6	network	network	NOUN
fbem-24666	66	7	.	.	PUNCT
fbem-24666	67	1	ne	ne	PROPN
fbem-24666	67	2	net	net	ADJ
fbem-24666	67	3	export	export	NOUN
fbem-24666	67	4	volume	volume	NOUN
fbem-24666	67	5	net	net	ADJ
fbem-24666	67	6	export	export	NOUN
fbem-24666	67	7	volume	volume	NOUN
fbem-24666	67	8	is	be	AUX
fbem-24666	67	9	used	use	VERB
fbem-24666	67	10	as	as	ADP
fbem-24666	67	11	the	the	DET
fbem-24666	67	12	proxy	proxy	ADJ
fbem-24666	67	13	variable	variable	NOUN
fbem-24666	67	14	for	for	ADP
fbem-24666	67	15	china	china	PROPN
fbem-24666	67	16	's	's	PART
fbem-24666	67	17	foreign	foreign	ADJ
fbem-24666	67	18	trade	trade	NOUN
fbem-24666	67	19	.	.	PUNCT
fbem-24666	68	1	source	source	NOUN
fbem-24666	68	2	:	:	PUNCT
fbem-24666	68	3	general	general	ADJ
fbem-24666	68	4	administration	administration	NOUN
fbem-24666	68	5	of	of	ADP
fbem-24666	68	6	customs	custom	NOUN
fbem-24666	68	7	of	of	ADP
fbem-24666	68	8	china	china	PROPN
fbem-24666	68	9	.	.	PUNCT
fbem-24666	69	1	si	si	PROPN
fbem-24666	69	2	shanghai	shanghai	PROPN
fbem-24666	69	3	composite	composite	PROPN
fbem-24666	69	4	index	index	NOUN
fbem-24666	69	5	si	si	PROPN
fbem-24666	69	6	is	be	AUX
fbem-24666	69	7	taken	take	VERB
fbem-24666	69	8	as	as	ADP
fbem-24666	69	9	the	the	DET
fbem-24666	69	10	representative	representative	ADJ
fbem-24666	69	11	variable	variable	NOUN
fbem-24666	69	12	for	for	ADP
fbem-24666	69	13	capital	capital	NOUN
fbem-24666	69	14	market	market	NOUN
fbem-24666	69	15	stock	stock	NOUN
fbem-24666	69	16	prices	price	NOUN
fbem-24666	69	17	.	.	PUNCT
fbem-24666	70	1	source	source	NOUN
fbem-24666	70	2	:	:	PUNCT
fbem-24666	70	3	resset	resset	PROPN
fbem-24666	70	4	.	.	PUNCT
fbem-24666	71	1	3.1	3.1	NUM
fbem-24666	71	2	.	.	PUNCT
fbem-24666	72	1	adf	adf	NOUN
fbem-24666	72	2	test	test	NOUN
fbem-24666	72	3	and	and	CCONJ
fbem-24666	72	4	johansen	johansen	PROPN
fbem-24666	72	5	cointegration	cointegration	PROPN
fbem-24666	72	6	test	test	NOUN
fbem-24666	72	7	this	this	DET
fbem-24666	72	8	paper	paper	NOUN
fbem-24666	72	9	utilizes	utilize	NOUN
fbem-24666	72	10	unit	unit	NOUN
fbem-24666	72	11	root	root	NOUN
fbem-24666	72	12	tests	test	NOUN
fbem-24666	72	13	and	and	CCONJ
fbem-24666	72	14	johansen	johansen	PROPN
fbem-24666	72	15	cointegration	cointegration	PROPN
fbem-24666	72	16	analysis	analysis	NOUN
fbem-24666	72	17	.	.	PUNCT
fbem-24666	73	1	the	the	DET
fbem-24666	73	2	characteristics	characteristic	NOUN
fbem-24666	73	3	of	of	ADP
fbem-24666	73	4	the	the	DET
fbem-24666	73	5	data	datum	NOUN
fbem-24666	73	6	can	can	AUX
fbem-24666	73	7	influence	influence	VERB
fbem-24666	73	8	the	the	DET
fbem-24666	73	9	effectiveness	effectiveness	NOUN
fbem-24666	73	10	of	of	ADP
fbem-24666	73	11	unit	unit	NOUN
fbem-24666	73	12	root	root	NOUN
fbem-24666	73	13	tests	test	NOUN
fbem-24666	73	14	.	.	PUNCT
fbem-24666	74	1	the	the	DET
fbem-24666	74	2	study	study	NOUN
fbem-24666	74	3	extends	extend	VERB
fbem-24666	74	4	monthly	monthly	ADJ
fbem-24666	74	5	data	datum	NOUN
fbem-24666	74	6	to	to	ADP
fbem-24666	74	7	weekly	weekly	ADJ
fbem-24666	74	8	data	datum	NOUN
fbem-24666	74	9	,	,	PUNCT
fbem-24666	74	10	using	use	VERB
fbem-24666	74	11	long	long	ADJ
fbem-24666	74	12	panel	panel	NOUN
fbem-24666	74	13	data	data	VERB
fbem-24666	74	14	logarithmic	logarithmic	ADJ
fbem-24666	74	15	transformation	transformation	NOUN
fbem-24666	74	16	.	.	PUNCT
fbem-24666	75	1	differential	differential	ADJ
fbem-24666	75	2	analysis	analysis	NOUN
fbem-24666	75	3	was	be	AUX
fbem-24666	75	4	conducted	conduct	VERB
fbem-24666	75	5	using	use	VERB
fbem-24666	75	6	spssau	spssau	ADJ
fbem-24666	75	7	software	software	NOUN
fbem-24666	75	8	.	.	PUNCT
fbem-24666	76	1	based	base	VERB
fbem-24666	76	2	on	on	ADP
fbem-24666	76	3	the	the	DET
fbem-24666	76	4	analysis	analysis	NOUN
fbem-24666	76	5	results	result	NOUN
fbem-24666	76	6	,	,	PUNCT
fbem-24666	76	7	second	second	ADJ
fbem-24666	76	8	-	-	PUNCT
fbem-24666	76	9	order	order	NOUN
fbem-24666	76	10	differencing	differencing	NOUN
fbem-24666	76	11	was	be	AUX
fbem-24666	76	12	selected	select	VERB
fbem-24666	76	13	for	for	SCONJ
fbem-24666	76	14	all	all	DET
fbem-24666	76	15	data	datum	NOUN
fbem-24666	76	16	to	to	PART
fbem-24666	76	17	enhance	enhance	VERB
fbem-24666	76	18	model	model	NOUN
fbem-24666	76	19	stability	stability	NOUN
fbem-24666	76	20	.	.	PUNCT
fbem-24666	77	1	the	the	DET
fbem-24666	77	2	adf	adf	PROPN
fbem-24666	77	3	(	(	PUNCT
fbem-24666	77	4	augmented	augment	VERB
fbem-24666	77	5	dickey	dickey	NOUN
fbem-24666	77	6	-	-	PUNCT
fbem-24666	77	7	fuller	fuller	NOUN
fbem-24666	77	8	)	)	PUNCT
fbem-24666	77	9	test	test	NOUN
fbem-24666	77	10	method	method	NOUN
fbem-24666	77	11	was	be	AUX
fbem-24666	77	12	employed	employ	VERB
fbem-24666	77	13	for	for	ADP
fbem-24666	77	14	unit	unit	NOUN
fbem-24666	77	15	root	root	NOUN
fbem-24666	77	16	testing	testing	NOUN
fbem-24666	77	17	on	on	ADP
fbem-24666	77	18	the	the	DET
fbem-24666	77	19	processed	process	VERB
fbem-24666	77	20	data	datum	NOUN
fbem-24666	77	21	.	.	PUNCT
fbem-24666	78	1	all	all	DET
fbem-24666	78	2	data	datum	NOUN
fbem-24666	78	3	passed	pass	VERB
fbem-24666	78	4	the	the	DET
fbem-24666	78	5	unit	unit	NOUN
fbem-24666	78	6	root	root	NOUN
fbem-24666	78	7	test	test	NOUN
fbem-24666	78	8	at	at	ADP
fbem-24666	78	9	a	a	DET
fbem-24666	78	10	95	95	NUM
fbem-24666	78	11	%	%	NOUN
fbem-24666	78	12	confidence	confidence	NOUN
fbem-24666	78	13	level	level	NOUN
fbem-24666	78	14	.	.	PUNCT
fbem-24666	79	1	the	the	DET
fbem-24666	79	2	85	85	NUM
fbem-24666	79	3	optimal	optimal	ADJ
fbem-24666	79	4	lag	lag	NOUN
fbem-24666	79	5	order	order	NOUN
fbem-24666	79	6	was	be	AUX
fbem-24666	79	7	determined	determine	VERB
fbem-24666	79	8	to	to	PART
fbem-24666	79	9	be	be	AUX
fbem-24666	79	10	1	1	NUM
fbem-24666	79	11	using	use	VERB
fbem-24666	79	12	the	the	DET
fbem-24666	79	13	bic	bic	NOUN
fbem-24666	79	14	(	(	PUNCT
fbem-24666	79	15	bayesian	bayesian	NOUN
fbem-24666	79	16	information	information	NOUN
fbem-24666	79	17	criterion	criterion	NOUN
fbem-24666	79	18	)	)	PUNCT
fbem-24666	79	19	rule	rule	NOUN
fbem-24666	79	20	.	.	PUNCT
fbem-24666	80	1	johansen	johansen	PROPN
fbem-24666	80	2	cointegration	cointegration	PROPN
fbem-24666	80	3	tests	test	NOUN
fbem-24666	80	4	were	be	AUX
fbem-24666	80	5	then	then	ADV
fbem-24666	80	6	conducted	conduct	VERB
fbem-24666	80	7	using	use	VERB
fbem-24666	80	8	a	a	DET
fbem-24666	80	9	first	first	ADJ
fbem-24666	80	10	-	-	PUNCT
fbem-24666	80	11	order	order	NOUN
fbem-24666	80	12	lag	lag	NOUN
fbem-24666	80	13	.	.	PUNCT
fbem-24666	81	1	for	for	ADP
fbem-24666	81	2	the	the	DET
fbem-24666	81	3	hypothesis	hypothesis	NOUN
fbem-24666	81	4	of	of	ADP
fbem-24666	81	5	'	'	PUNCT
fbem-24666	81	6	at	at	ADP
fbem-24666	81	7	most	most	ADJ
fbem-24666	81	8	5	5	NUM
fbem-24666	81	9	cointegrations	cointegration	NOUN
fbem-24666	81	10	,	,	PUNCT
fbem-24666	81	11	'	'	PUNCT
fbem-24666	81	12	the	the	DET
fbem-24666	81	13	trace	trace	NOUN
fbem-24666	81	14	statistic	statistic	NOUN
fbem-24666	81	15	value	value	NOUN
fbem-24666	81	16	was	be	AUX
fbem-24666	81	17	4.625	4.625	NUM
fbem-24666	81	18	,	,	PUNCT
fbem-24666	81	19	and	and	CCONJ
fbem-24666	81	20	the	the	DET
fbem-24666	81	21	5	5	NUM
fbem-24666	81	22	%	%	NOUN
fbem-24666	81	23	critical	critical	ADJ
fbem-24666	81	24	value	value	NOUN
fbem-24666	81	25	was	be	AUX
fbem-24666	81	26	3.841	3.841	NUM
fbem-24666	81	27	,	,	PUNCT
fbem-24666	81	28	indicating	indicate	VERB
fbem-24666	81	29	rejection	rejection	NOUN
fbem-24666	81	30	of	of	ADP
fbem-24666	81	31	the	the	DET
fbem-24666	81	32	hypothesis	hypothesis	NOUN
fbem-24666	81	33	at	at	ADP
fbem-24666	81	34	the	the	DET
fbem-24666	81	35	5	5	NUM
fbem-24666	81	36	%	%	NOUN
fbem-24666	81	37	significance	significance	NOUN
fbem-24666	81	38	level	level	NOUN
fbem-24666	81	39	.	.	PUNCT
fbem-24666	82	1	3.2	3.2	NUM
fbem-24666	82	2	.	.	X
fbem-24666	82	3	tvp	tvp	ADJ
fbem-24666	82	4	-	-	PUNCT
fbem-24666	82	5	var	var	NOUN
fbem-24666	82	6	analysis	analysis	NOUN
fbem-24666	82	7	in	in	ADP
fbem-24666	82	8	the	the	DET
fbem-24666	82	9	dynamic	dynamic	ADJ
fbem-24666	82	10	state	state	NOUN
fbem-24666	82	11	-	-	PUNCT
fbem-24666	82	12	space	space	NOUN
fbem-24666	82	13	model	model	NOUN
fbem-24666	82	14	framework	framework	NOUN
fbem-24666	82	15	,	,	PUNCT
fbem-24666	82	16	yt	yt	PROPN
fbem-24666	82	17	is	be	AUX
fbem-24666	82	18	a	a	DET
fbem-24666	82	19	k	k	PROPN
fbem-24666	82	20	×1vector	×1vector	NOUN
fbem-24666	82	21	of	of	ADP
fbem-24666	82	22	observed	observed	ADJ
fbem-24666	82	23	variables	variable	NOUN
fbem-24666	82	24	,	,	PUNCT
fbem-24666	82	25	ct	ct	PROPN
fbem-24666	82	26	is	be	AUX
fbem-24666	82	27	a	a	DET
fbem-24666	82	28	k×1	k×1	NOUN
fbem-24666	82	29	vector	vector	NOUN
fbem-24666	82	30	of	of	ADP
fbem-24666	82	31	state	state	NOUN
fbem-24666	82	32	variables	variable	NOUN
fbem-24666	82	33	,	,	PUNCT
fbem-24666	82	34	bi	bi	PROPN
fbem-24666	82	35	,	,	PUNCT
fbem-24666	82	36	t	t	PROPN
fbem-24666	82	37	,	,	PUNCT
fbem-24666	82	38	i=1	i=1	X
fbem-24666	82	39	…	…	SYM
fbem-24666	82	40	s	s	NOUN
fbem-24666	82	41	are	be	AUX
fbem-24666	82	42	k×k	k×k	PROPN
fbem-24666	82	43	matrices	matrix	NOUN
fbem-24666	82	44	of	of	ADP
fbem-24666	82	45	time	time	NOUN
fbem-24666	82	46	-	-	PUNCT
fbem-24666	82	47	varying	vary	VERB
fbem-24666	82	48	coefficients	coefficient	NOUN
fbem-24666	82	49	,	,	PUNCT
fbem-24666	82	50	and	and	CCONJ
fbem-24666	82	51	ut	ut	PROPN
fbem-24666	82	52	is	be	AUX
fbem-24666	82	53	a	a	DET
fbem-24666	82	54	k×1	k×1	NOUN
fbem-24666	82	55	vector	vector	NOUN
fbem-24666	82	56	of	of	ADP
fbem-24666	82	57	innovations	innovation	NOUN
fbem-24666	82	58	,	,	PUNCT
fbem-24666	82	59	assumed	assume	VERB
fbem-24666	82	60	to	to	PART
fbem-24666	82	61	follow	follow	VERB
fbem-24666	82	62	a	a	DET
fbem-24666	82	63	normal	normal	ADJ
fbem-24666	82	64	distribution	distribution	NOUN
fbem-24666	82	65	ωt	ωt	PROPN
fbem-24666	82	66	.	.	PROPN
fbem-24666	82	67	tsttstttt	tsttstttt	PROPN
fbem-24666	82	68	uybybcy	uybybcy	PROPN
fbem-24666	83	1	+	+	PROPN
fbem-24666	83	2	+	+	ADJ
fbem-24666	83	3	+	+	ADJ
fbem-24666	83	4	+	+	ADJ
fbem-24666	83	5	=	=	ADJ
fbem-24666	83	6	−−	−−	NOUN
fbem-24666	83	7	,	,	PUNCT
fbem-24666	83	8	1,1	1,1	NUM
fbem-24666	83	9			NOUN
fbem-24666	83	10	t	t	NOUN
fbem-24666	83	11	=	=	SYM
fbem-24666	83	12	s+1	s+1	PROPN
fbem-24666	83	13	,	,	PUNCT
fbem-24666	83	14	…	…	PUNCT
fbem-24666	83	15	n	n	CCONJ
fbem-24666	83	16	(	(	PUNCT
fbem-24666	83	17	1	1	X
fbem-24666	83	18	)	)	PUNCT
fbem-24666	83	19	transform	transform	VERB
fbem-24666	83	20	the	the	DET
fbem-24666	83	21	covariance	covariance	NOUN
fbem-24666	83	22	matrix	matrix	NOUN
fbem-24666	83	23	ωt	ωt	ADP
fbem-24666	83	24	to	to	PART
fbem-24666	83	25	atωtat′=σtσt′.	atωtat′=σtσt′.	VERB
fbem-24666	83	26	assuming	assume	VERB
fbem-24666	83	27	at	at	ADP
fbem-24666	83	28	is	be	AUX
fbem-24666	83	29	a	a	DET
fbem-24666	83	30	lower	low	ADJ
fbem-24666	83	31	triangular	triangular	NOUN
fbem-24666	83	32	matrix	matrix	NOUN
fbem-24666	83	33	.	.	PUNCT
fbem-24666	84	1	at	at	ADP
fbem-24666	84	2	=	=	PUNCT
fbem-24666	84	3	(	(	PUNCT
fbem-24666	84	4	1	1	NUM
fbem-24666	84	5	0	0	NUM
fbem-24666	84	6	⋯	⋯	NOUN
fbem-24666	84	7	0	0	NUM
fbem-24666	84	8	a21,t	a21,t	NOUN
fbem-24666	84	9	1	1	NUM
fbem-24666	84	10	⋮	⋮	NOUN
fbem-24666	84	11	⋮	⋮	ADJ
fbem-24666	84	12	⋮	⋮	ADJ
fbem-24666	84	13	⋮	⋮	PROPN
fbem-24666	84	14	⋮	⋮	PROPN
fbem-24666	84	15	⋮	⋮	PROPN
fbem-24666	84	16	ak1,t	ak1,t	PROPN
fbem-24666	84	17	⋯	⋯	ADP
fbem-24666	84	18	akk−1,t	akk−1,t	NUM
fbem-24666	84	19	1	1	NUM
fbem-24666	84	20	)	)	PUNCT
fbem-24666	84	21	(	(	PUNCT
fbem-24666	84	22	2	2	X
fbem-24666	84	23	)	)	PUNCT
fbem-24666	84	24	σtis	σtis	NOUN
fbem-24666	84	25	a	a	DET
fbem-24666	84	26	diagonal	diagonal	ADJ
fbem-24666	84	27	matrix	matrix	NOUN
fbem-24666	84	28	.	.	PUNCT
fbem-24666	85	1	σt	σt	ADP
fbem-24666	85	2	=	=	SYM
fbem-24666	85	3	(	(	PUNCT
fbem-24666	85	4	σ1	σ1	PROPN
fbem-24666	85	5	t	t	PROPN
fbem-24666	85	6	0	0	PUNCT
fbem-24666	86	1	⋯	⋯	X
fbem-24666	86	2	0	0	NOUN
fbem-24666	86	3	0	0	NUM
fbem-24666	86	4	σ2	σ2	PROPN
fbem-24666	86	5	t	t	NOUN
fbem-24666	86	6	0	0	NUM
fbem-24666	86	7	⋮	⋮	NOUN
fbem-24666	86	8	⋮	⋮	NOUN
fbem-24666	86	9	0	0	PUNCT
fbem-24666	86	10	⋮	⋮	NOUN
fbem-24666	86	11	0	0	NUM
fbem-24666	86	12	0	0	PUNCT
fbem-24666	87	1	⋯	⋯	X
fbem-24666	87	2	0	0	NUM
fbem-24666	87	3	σkt	σkt	PROPN
fbem-24666	87	4	)	)	PUNCT
fbem-24666	87	5	(	(	PUNCT
fbem-24666	87	6	3	3	X
fbem-24666	87	7	)	)	PUNCT
fbem-24666	87	8	transform	transform	VERB
fbem-24666	87	9	equation	equation	NOUN
fbem-24666	87	10	(	(	PUNCT
fbem-24666	87	11	1	1	NUM
fbem-24666	87	12	)	)	PUNCT
fbem-24666	87	13	into	into	ADP
fbem-24666	87	14	yt	yt	NOUN
fbem-24666	87	15	=	=	PUNCT
fbem-24666	87	16	ct+	ct+	PROPN
fbem-24666	87	17	b1,tyt	b1,tyt	PRON
fbem-24666	87	18	−	−	PROPN
fbem-24666	87	19	1	1	NUM
fbem-24666	87	20	+	+	NUM
fbem-24666	87	21	⋯+	⋯+	NOUN
fbem-24666	87	22	bs	bs	NOUN
fbem-24666	87	23	,	,	PUNCT
fbem-24666	87	24	tyt	tyt	ADJ
fbem-24666	87	25	−	−	PROPN
fbem-24666	87	26	e+	e+	PUNCT
fbem-24666	87	27	at	at	ADP
fbem-24666	87	28	′∑tεt	′∑tεt	NOUN
fbem-24666	87	29	,	,	PUNCT
fbem-24666	87	30	t	t	NOUN
fbem-24666	87	31	=	=	PUNCT
fbem-24666	87	32	s+	s+	NUM
fbem-24666	87	33	1,⋯n	1,⋯n	NUM
fbem-24666	87	34	(	(	PUNCT
fbem-24666	87	35	4	4	NUM
fbem-24666	87	36	)	)	PUNCT
fbem-24666	87	37	v(εt	v(εt	NUM
fbem-24666	87	38	)	)	PUNCT
fbem-24666	87	39	=	=	VERB
fbem-24666	87	40	in	in	ADV
fbem-24666	87	41	,	,	PUNCT
fbem-24666	87	42	let	let	VERB
fbem-24666	87	43	xt	xt	PART
fbem-24666	87	44	′	′	VERB
fbem-24666	88	1	=	=	PUNCT
fbem-24666	89	1	in	in	ADP
fbem-24666	89	2	⊗[1,yt−1	⊗[1,yt−1	PROPN
fbem-24666	89	3	′	′	NOUN
fbem-24666	89	4	,	,	PUNCT
fbem-24666	89	5	⋯yt−s	⋯yt−	NOUN
fbem-24666	89	6	′	′	NUM
fbem-24666	89	7	]	]	PUNCT
fbem-24666	89	8	(	(	PUNCT
fbem-24666	89	9	5	5	X
fbem-24666	89	10	)	)	PUNCT
fbem-24666	89	11	transform	transform	VERB
fbem-24666	89	12	equation	equation	NOUN
fbem-24666	89	13	(	(	PUNCT
fbem-24666	89	14	2	2	NUM
fbem-24666	89	15	)	)	PUNCT
fbem-24666	89	16	into	into	ADP
fbem-24666	89	17	yt	yt	NOUN
fbem-24666	89	18	=	=	PUNCT
fbem-24666	89	19	xt	xt	PROPN
fbem-24666	89	20	′bt	′bt	NOUN
fbem-24666	89	21	+	+	CCONJ
fbem-24666	89	22	at	at	ADP
fbem-24666	89	23	′∑tεt	′∑tεt	NOUN
fbem-24666	89	24	t	t	NOUN
fbem-24666	89	25	=	=	SYM
fbem-24666	89	26	s	s	PART
fbem-24666	89	27	+	+	NUM
fbem-24666	89	28	1,⋯n	1,⋯n	NUM
fbem-24666	89	29	(	(	PUNCT
fbem-24666	89	30	6	6	NUM
fbem-24666	89	31	)	)	PUNCT
fbem-24666	89	32	𝐵𝑡	𝐵𝑡	NOUN
fbem-24666	89	33	is	be	AUX
fbem-24666	89	34	a	a	DET
fbem-24666	89	35	time	time	NOUN
fbem-24666	89	36	-	-	PUNCT
fbem-24666	89	37	varying	vary	VERB
fbem-24666	89	38	coefficient	coefficient	NOUN
fbem-24666	89	39	,	,	PUNCT
fbem-24666	89	40	and	and	CCONJ
fbem-24666	89	41	both	both	DET
fbem-24666	89	42	parameters	parameter	NOUN
fbem-24666	89	43	at	at	ADP
fbem-24666	89	44	and	and	CCONJ
fbem-24666	89	45	σ𝑡	σ𝑡	INTJ
fbem-24666	89	46	are	be	AUX
fbem-24666	89	47	time	time	NOUN
fbem-24666	89	48	-	-	PUNCT
fbem-24666	89	49	varying	vary	VERB
fbem-24666	89	50	parameters	parameter	NOUN
fbem-24666	89	51	.	.	PUNCT
fbem-24666	90	1	the	the	DET
fbem-24666	90	2	tvp	tvp	PROPN
fbem-24666	90	3	-	-	PUNCT
fbem-24666	90	4	var	var	NOUN
fbem-24666	90	5	model	model	NOUN
fbem-24666	90	6	mainly	mainly	ADV
fbem-24666	90	7	refers	refer	VERB
fbem-24666	90	8	to	to	ADP
fbem-24666	90	9	the	the	DET
fbem-24666	90	10	methods	method	NOUN
fbem-24666	90	11	of	of	ADP
fbem-24666	90	12	primiceri	primiceri	ADJ
fbem-24666	90	13	(	(	PUNCT
fbem-24666	90	14	2005	2005	NUM
fbem-24666	90	15	)	)	PUNCT
fbem-24666	90	16	and	and	CCONJ
fbem-24666	90	17	nakajima	nakajima	PROPN
fbem-24666	90	18	jouchi	jouchi	PROPN
fbem-24666	90	19	(	(	PUNCT
fbem-24666	90	20	2011	2011	NUM
fbem-24666	90	21	)	)	PUNCT
fbem-24666	90	22	,	,	PUNCT
fbem-24666	90	23	making	make	VERB
fbem-24666	90	24	the	the	DET
fbem-24666	90	25	following	follow	VERB
fbem-24666	90	26	assumptions	assumption	NOUN
fbem-24666	90	27	:	:	PUNCT
fbem-24666	90	28	let	let	VERB
fbem-24666	90	29	αt	αt	NOUN
fbem-24666	90	30	represent	represent	VERB
fbem-24666	90	31	the	the	DET
fbem-24666	90	32	vector	vector	NOUN
fbem-24666	90	33	in	in	ADP
fbem-24666	90	34	at	at	ADP
fbem-24666	90	35	where	where	SCONJ
fbem-24666	90	36	elements	element	NOUN
fbem-24666	90	37	are	be	AUX
fbem-24666	90	38	neither	neither	ADV
fbem-24666	90	39	0	0	NUM
fbem-24666	90	40	nor	nor	CCONJ
fbem-24666	90	41	1	1	NUM
fbem-24666	90	42	,	,	PUNCT
fbem-24666	90	43	αt	αt	NOUN
fbem-24666	90	44	=	=	SYM
fbem-24666	90	45	(	(	PUNCT
fbem-24666	90	46	α21,α31,α41,⋯αk	α21,α31,α41,⋯αk	PROPN
fbem-24666	90	47	,	,	PUNCT
fbem-24666	90	48	k−1)′	k−1)′	PROPN
fbem-24666	90	49	.	.	PUNCT
fbem-24666	91	1	for	for	ADP
fbem-24666	91	2	the	the	DET
fbem-24666	91	3	estimation	estimation	NOUN
fbem-24666	91	4	of	of	ADP
fbem-24666	91	5	at	at	ADP
fbem-24666	91	6	,	,	PUNCT
fbem-24666	91	7	define	define	VERB
fbem-24666	91	8	ℎt	ℎt	ADP
fbem-24666	92	1	=	=	SYM
fbem-24666	92	2	(	(	PUNCT
fbem-24666	92	3	ℎ1t,⋯ℎkt)′	ℎ1t,⋯ℎkt)′	INTJ
fbem-24666	92	4	,	,	PUNCT
fbem-24666	92	5	where	where	SCONJ
fbem-24666	92	6	hjt	hjt	PROPN
fbem-24666	92	7	=	=	PUNCT
fbem-24666	92	8	logσjt	logσjt	ADJ
fbem-24666	92	9	2	2	NUM
fbem-24666	92	10	,	,	PUNCT
fbem-24666	92	11	j	j	PROPN
fbem-24666	92	12	=	=	SYM
fbem-24666	92	13	1,⋯k	1,⋯k	NUM
fbem-24666	92	14	,	,	PUNCT
fbem-24666	92	15	t	t	PROPN
fbem-24666	92	16	=	=	SYM
fbem-24666	92	17	s	s	PART
fbem-24666	92	18	+	+	NOUN
fbem-24666	92	19	1,⋯n	1,⋯n	NUM
fbem-24666	92	20	,	,	PUNCT
fbem-24666	92	21	and	and	CCONJ
fbem-24666	92	22	it	it	PRON
fbem-24666	92	23	is	be	AUX
fbem-24666	92	24	assumed	assume	VERB
fbem-24666	92	25	that	that	SCONJ
fbem-24666	92	26	the	the	DET
fbem-24666	92	27	parameters	parameter	NOUN
fbem-24666	92	28	follow	follow	VERB
fbem-24666	92	29	a	a	DET
fbem-24666	92	30	random	random	ADJ
fbem-24666	92	31	walk	walk	NOUN
fbem-24666	92	32	.	.	PUNCT
fbem-24666	92	33	βt+1	βt+1	PUNCT
fbem-24666	93	1	=	=	PRON
fbem-24666	93	2	βt	βt	NOUN
fbem-24666	94	1	+	+	NUM
fbem-24666	94	2	μβt	μβt	ADJ
fbem-24666	94	3	(	(	PUNCT
fbem-24666	94	4	7	7	NUM
fbem-24666	94	5	)	)	PUNCT
fbem-24666	94	6	αt+1	αt+1	NOUN
fbem-24666	94	7	=	=	SYM
fbem-24666	94	8	αt	αt	NOUN
fbem-24666	94	9	+	+	NOUN
fbem-24666	94	10	μαt	μαt	NOUN
fbem-24666	94	11	(	(	PUNCT
fbem-24666	94	12	8)	8)	NUM
fbem-24666	94	13	ℎt+1	ℎt+1	X
fbem-24666	94	14	=	=	PUNCT
fbem-24666	94	15	ℎt	ℎt	PROPN
fbem-24666	94	16	+	+	CCONJ
fbem-24666	94	17	μℎt	μℎt	ADJ
fbem-24666	94	18	(	(	PUNCT
fbem-24666	94	19	9	9	NUM
fbem-24666	94	20	)	)	PUNCT
fbem-24666	94	21	(	(	PUNCT
fbem-24666	94	22	εt	εt	INTJ
fbem-24666	94	23	μβt	μβt	PROPN
fbem-24666	94	24	μαt	μαt	PROPN
fbem-24666	94	25	μℎt	μℎt	PROPN
fbem-24666	94	26	)	)	PUNCT
fbem-24666	94	27	~n	~n	PUNCT
fbem-24666	94	28	(	(	PUNCT
fbem-24666	94	29	0	0	NUM
fbem-24666	94	30	,	,	PUNCT
fbem-24666	94	31	(	(	PUNCT
fbem-24666	94	32	i	i	NOUN
fbem-24666	94	33	0	0	NUM
fbem-24666	94	34	0	0	NUM
fbem-24666	94	35	0	0	NUM
fbem-24666	94	36	0	0	NUM
fbem-24666	95	1	∑β	∑β	ADJ
fbem-24666	95	2	0	0	NUM
fbem-24666	95	3	0	0	NUM
fbem-24666	95	4	0	0	NUM
fbem-24666	95	5	0	0	NUM
fbem-24666	96	1	∑α	∑α	NOUN
fbem-24666	96	2	0	0	NUM
fbem-24666	96	3	0	0	NUM
fbem-24666	96	4	0	0	NUM
fbem-24666	96	5	0	0	NUM
fbem-24666	96	6	∑ℎ	∑ℎ	NOUN
fbem-24666	96	7	)	)	PUNCT
fbem-24666	96	8	)	)	PUNCT
fbem-24666	96	9	,	,	PUNCT
fbem-24666	96	10	t	t	PROPN
fbem-24666	96	11	=	=	PUNCT
fbem-24666	96	12	s+	s+	NUM
fbem-24666	96	13	1,⋯n	1,⋯n	NUM
fbem-24666	96	14	(	(	PUNCT
fbem-24666	96	15	10	10	NUM
fbem-24666	96	16	)	)	PUNCT
fbem-24666	96	17	βt+1	βt+1	PUNCT
fbem-24666	96	18	~	~	SYM
fbem-24666	96	19	n(μβ0,∑β0),αt+1	n(μβ0,∑β0),αt+1	X
fbem-24666	96	20	~	~	SYM
fbem-24666	96	21	n(μα0,∑α0),ℎt+1	n(μα0,∑α0),ℎt+1	SYM
fbem-24666	96	22	~	~	SYM
fbem-24666	96	23	n(μℎ0,∑ℎ0	n(μℎ0,∑ℎ0	PRON
fbem-24666	96	24	)	)	PUNCT
fbem-24666	96	25	to	to	PART
fbem-24666	96	26	simplify	simplify	VERB
fbem-24666	96	27	the	the	DET
fbem-24666	96	28	model	model	NOUN
fbem-24666	96	29	estimation	estimation	NOUN
fbem-24666	96	30	,	,	PUNCT
fbem-24666	96	31	assumng	assumng	PROPN
fbem-24666	96	32	∑β	∑β	PROPN
fbem-24666	96	33	,	,	PUNCT
fbem-24666	96	34	∑α	∑α	PROPN
fbem-24666	96	35	and	and	CCONJ
fbem-24666	96	36	∑ℎ	∑ℎ	PROPN
fbem-24666	96	37	are	be	AUX
fbem-24666	96	38	diagonal	diagonal	ADJ
fbem-24666	96	39	matrixes	matrix	NOUN
fbem-24666	96	40	.	.	PUNCT
fbem-24666	97	1	set	set	VERB
fbem-24666	97	2	the	the	DET
fbem-24666	97	3	initial	initial	ADJ
fbem-24666	97	4	values	value	NOUN
fbem-24666	97	5	of	of	ADP
fbem-24666	97	6	the	the	DET
fbem-24666	97	7	model	model	NOUN
fbem-24666	97	8	,	,	PUNCT
fbem-24666	97	9	let	let	VERB
fbem-24666	97	10	μβ0	μβ0	NOUN
fbem-24666	97	11	=	=	SYM
fbem-24666	97	12	μα0	μα0	X
fbem-24666	98	1	=	=	PUNCT
fbem-24666	99	1	μℎ0	μℎ0	NOUN
fbem-24666	99	2	=	=	SYM
fbem-24666	99	3	0	0	NUM
fbem-24666	99	4	,	,	PUNCT
fbem-24666	99	5	∑β0	∑β0	PROPN
fbem-24666	99	6	=	=	PUNCT
fbem-24666	99	7	∑α0	∑α0	NOUN
fbem-24666	99	8	=	=	SYM
fbem-24666	99	9	∑h0	∑h0	PROPN
fbem-24666	100	1	=	=	SYM
fbem-24666	100	2	10	10	NUM
fbem-24666	100	3	×i	×i	ADJ
fbem-24666	100	4	,	,	PUNCT
fbem-24666	100	5	and	and	CCONJ
fbem-24666	100	6	assume	assume	VERB
fbem-24666	100	7	the	the	DET
fbem-24666	100	8	prior	prior	ADJ
fbem-24666	100	9	distribution	distribution	NOUN
fbem-24666	100	10	of	of	ADP
fbem-24666	100	11	the	the	DET
fbem-24666	100	12	model	model	NOUN
fbem-24666	100	13	as	as	ADP
fbem-24666	100	14	:	:	PUNCT
fbem-24666	100	15	(	(	PUNCT
fbem-24666	100	16	∑β)i	∑β)i	PROPN
fbem-24666	100	17	2	2	NUM
fbem-24666	100	18	=	=	SYM
fbem-24666	100	19	gammma(20,0.01	gammma(20,0.01	PROPN
fbem-24666	100	20	)	)	PUNCT
fbem-24666	100	21	,	,	PUNCT
fbem-24666	100	22	(	(	PUNCT
fbem-24666	100	23	∑α)i	∑α)i	ADP
fbem-24666	100	24	2	2	NUM
fbem-24666	100	25	=	=	SYM
fbem-24666	100	26	gammma(2,0.01	gammma(2,0.01	PROPN
fbem-24666	100	27	)	)	PUNCT
fbem-24666	100	28	,	,	PUNCT
fbem-24666	100	29	(	(	PUNCT
fbem-24666	100	30	∑ℎ)i	∑ℎ)i	NOUN
fbem-24666	100	31	2	2	NUM
fbem-24666	100	32	=	=	SYM
fbem-24666	100	33	gammma(20,0.01	gammma(20,0.01	PROPN
fbem-24666	100	34	)	)	PUNCT
fbem-24666	100	35	.	.	PUNCT
fbem-24666	101	1	3.3	3.3	NUM
fbem-24666	101	2	.	.	PUNCT
fbem-24666	102	1	empirical	empirical	ADJ
fbem-24666	102	2	results	result	NOUN
fbem-24666	102	3	analysis	analysis	NOUN
fbem-24666	102	4	in	in	ADP
fbem-24666	102	5	the	the	DET
fbem-24666	102	6	empirical	empirical	ADJ
fbem-24666	102	7	section	section	NOUN
fbem-24666	102	8	of	of	ADP
fbem-24666	102	9	the	the	DET
fbem-24666	102	10	paper	paper	NOUN
fbem-24666	102	11	,	,	PUNCT
fbem-24666	102	12	oxmetrics	oxmetric	NOUN
fbem-24666	102	13	6	6	NUM
fbem-24666	102	14	software	software	NOUN
fbem-24666	102	15	was	be	AUX
fbem-24666	102	16	used	use	VERB
fbem-24666	102	17	to	to	PART
fbem-24666	102	18	conduct	conduct	VERB
fbem-24666	102	19	the	the	DET
fbem-24666	102	20	tvp	tvp	ADJ
fbem-24666	102	21	-	-	PUNCT
fbem-24666	102	22	var	var	NOUN
fbem-24666	102	23	model	model	NOUN
fbem-24666	102	24	analysis	analysis	NOUN
fbem-24666	102	25	.	.	PUNCT
fbem-24666	103	1	the	the	DET
fbem-24666	103	2	lag	lag	NOUN
fbem-24666	103	3	order	order	NOUN
fbem-24666	103	4	for	for	ADP
fbem-24666	103	5	all	all	DET
fbem-24666	103	6	models	model	NOUN
fbem-24666	103	7	was	be	AUX
fbem-24666	103	8	set	set	VERB
fbem-24666	103	9	to	to	ADP
fbem-24666	103	10	1	1	NUM
fbem-24666	103	11	.	.	PUNCT
fbem-24666	104	1	the	the	DET
fbem-24666	104	2	mcmc	mcmc	PROPN
fbem-24666	104	3	algorithm	algorithm	PROPN
fbem-24666	104	4	was	be	AUX
fbem-24666	104	5	employed	employ	VERB
fbem-24666	104	6	to	to	PART
fbem-24666	104	7	perform	perform	VERB
fbem-24666	104	8	10,000	10,000	NUM
fbem-24666	104	9	sampling	sample	VERB
fbem-24666	104	10	iterations	iteration	NOUN
fbem-24666	104	11	on	on	ADP
fbem-24666	104	12	the	the	DET
fbem-24666	104	13	model	model	NOUN
fbem-24666	104	14	sample	sample	NOUN
fbem-24666	104	15	data	data	PROPN
fbem-24666	104	16	.	.	PUNCT
fbem-24666	105	1	the	the	DET
fbem-24666	105	2	simulated	simulate	VERB
fbem-24666	105	3	estimation	estimation	NOUN
fbem-24666	105	4	results	result	NOUN
fbem-24666	105	5	of	of	ADP
fbem-24666	105	6	the	the	DET
fbem-24666	105	7	model	model	NOUN
fbem-24666	105	8	parameters	parameter	NOUN
fbem-24666	105	9	are	be	AUX
fbem-24666	105	10	shown	show	VERB
fbem-24666	105	11	in	in	ADP
fbem-24666	105	12	the	the	DET
fbem-24666	105	13	figure	figure	NOUN
fbem-24666	105	14	below	below	ADV
fbem-24666	105	15	.	.	PUNCT
fbem-24666	106	1	the	the	DET
fbem-24666	106	2	analysis	analysis	NOUN
fbem-24666	106	3	revealed	reveal	VERB
fbem-24666	106	4	that	that	SCONJ
fbem-24666	106	5	the	the	DET
fbem-24666	106	6	model	model	NOUN
fbem-24666	106	7	converged	converge	VERB
fbem-24666	106	8	to	to	ADP
fbem-24666	106	9	the	the	DET
fbem-24666	106	10	posterior	posterior	ADJ
fbem-24666	106	11	distribution	distribution	NOUN
fbem-24666	106	12	.	.	PUNCT
fbem-24666	107	1	table	table	NOUN
fbem-24666	107	2	2	2	NUM
fbem-24666	107	3	.	.	X
fbem-24666	107	4	estimation	estimation	NOUN
fbem-24666	107	5	results	result	NOUN
fbem-24666	107	6	of	of	ADP
fbem-24666	107	7	model	model	NOUN
fbem-24666	107	8	one	one	NUM
fbem-24666	107	9	parameters	parameter	NOUN
fbem-24666	107	10	mean	mean	VERB
fbem-24666	107	11	standard	standard	ADJ
fbem-24666	107	12	deviation	deviation	NOUN
fbem-24666	107	13	95	95	NUM
fbem-24666	107	14	%	%	NOUN
fbem-24666	107	15	lower	lower	ADV
fbem-24666	107	16	bound	bind	VERB
fbem-24666	107	17	95	95	NUM
fbem-24666	107	18	%	%	NOUN
fbem-24666	107	19	upper	upper	ADJ
fbem-24666	107	20	bound	bind	VERB
fbem-24666	107	21	geweke	geweke	NOUN
fbem-24666	107	22	factor	factor	NOUN
fbem-24666	107	23	inefficiency	inefficiency	NOUN
fbem-24666	107	24	factor	factor	NOUN
fbem-24666	107	25	sb1	sb1	NOUN
fbem-24666	107	26	0.0219	0.0219	NUM
fbem-24666	107	27	0.0023	0.0023	NUM
fbem-24666	107	28	0.0178	0.0178	NUM
fbem-24666	107	29	0.0269	0.0269	NUM
fbem-24666	107	30	0.021	0.021	NUM
fbem-24666	107	31	5.72	5.72	NUM
fbem-24666	107	32	sb2	sb2	NOUN
fbem-24666	107	33	0.0199	0.0199	NUM
fbem-24666	107	34	0.0021	0.0021	NUM
fbem-24666	107	35	0.0165	0.0165	NUM
fbem-24666	107	36	0.0246	0.0246	NUM
fbem-24666	107	37	0.019	0.019	NUM
fbem-24666	107	38	34	34	NUM
fbem-24666	107	39	sa1	sa1	NOUN
fbem-24666	107	40	0.0712	0.0712	NUM
fbem-24666	107	41	0.024	0.024	NUM
fbem-24666	107	42	0.0396	0.0396	NUM
fbem-24666	107	43	0.13	0.13	NUM
fbem-24666	107	44	0.103	0.103	NUM
fbem-24666	107	45	20.94	20.94	NUM
fbem-24666	107	46	sa2	sa2	NOUN
fbem-24666	107	47	0.0416	0.0416	NUM
fbem-24666	107	48	0.008	0.008	NUM
fbem-24666	107	49	0.0294	0.0294	NUM
fbem-24666	107	50	0.0605	0.0605	NUM
fbem-24666	107	51	0.04	0.04	NUM
fbem-24666	107	52	6.64	6.64	NUM
fbem-24666	107	53	sh1	sh1	VERB
fbem-24666	107	54	3.8914	3.8914	NUM
fbem-24666	107	55	0.8115	0.8115	NUM
fbem-24666	108	1	0.4395	0.4395	NUM
fbem-24666	108	2	4.8344	4.8344	NUM
fbem-24666	108	3	0.029	0.029	NUM
fbem-24666	108	4	248.21	248.21	NUM
fbem-24666	108	5	sh2	sh2	NOUN
fbem-24666	108	6	0.2261	0.2261	NUM
fbem-24666	108	7	0.088	0.088	NUM
fbem-24666	108	8	0.0989	0.0989	NUM
fbem-24666	108	9	0.4364	0.4364	NUM
fbem-24666	108	10	0.729	0.729	NUM
fbem-24666	108	11	37.39	37.39	NUM
fbem-24666	108	12	table	table	NOUN
fbem-24666	108	13	3	3	NUM
fbem-24666	108	14	.	.	PUNCT
fbem-24666	108	15	estimation	estimation	NOUN
fbem-24666	108	16	results	result	NOUN
fbem-24666	108	17	of	of	ADP
fbem-24666	108	18	model	model	NOUN
fbem-24666	108	19	two	two	NUM
fbem-24666	108	20	parameters	parameter	NOUN
fbem-24666	108	21	mean	mean	VERB
fbem-24666	108	22	standard	standard	ADJ
fbem-24666	108	23	deviation	deviation	NOUN
fbem-24666	108	24	95	95	NUM
fbem-24666	108	25	%	%	NOUN
fbem-24666	108	26	lower	lower	ADV
fbem-24666	108	27	bound	bind	VERB
fbem-24666	108	28	95	95	NUM
fbem-24666	108	29	%	%	NOUN
fbem-24666	108	30	upper	upper	ADJ
fbem-24666	108	31	bound	bind	VERB
fbem-24666	108	32	geweke	geweke	NOUN
fbem-24666	108	33	factor	factor	NOUN
fbem-24666	108	34	inefficiency	inefficiency	NOUN
fbem-24666	108	35	factor	factor	NOUN
fbem-24666	108	36	sb1	sb1	NOUN
fbem-24666	108	37	0.0224	0.0224	NUM
fbem-24666	108	38	0.0025	0.0025	NUM
fbem-24666	108	39	0.0182	0.0182	NUM
fbem-24666	108	40	0.0279	0.0279	NUM
fbem-24666	108	41	0.206	0.206	NUM
fbem-24666	108	42	10.17	10.17	NUM
fbem-24666	108	43	sb2	sb2	NOUN
fbem-24666	108	44	0.0210	0.0210	NUM
fbem-24666	108	45	0.0026	0.0026	NUM
fbem-24666	108	46	0.0170	0.0170	NUM
fbem-24666	108	47	0.0272	0.0272	NUM
fbem-24666	108	48	0.057	0.057	NUM
fbem-24666	108	49	82.39	82.39	NUM
fbem-24666	108	50	sa1	sa1	NOUN
fbem-24666	108	51	0.0699	0.0699	NUM
fbem-24666	108	52	0.0231	0.0231	NUM
fbem-24666	108	53	0.0392	0.0392	NUM
fbem-24666	108	54	0.1296	0.1296	NUM
fbem-24666	108	55	0.209	0.209	NUM
fbem-24666	108	56	37.85	37.85	NUM
fbem-24666	108	57	sa2	sa2	NOUN
fbem-24666	108	58	2.8085	2.8085	NUM
fbem-24666	108	59	1.5294	1.5294	NUM
fbem-24666	108	60	0.1691	0.1691	NUM
fbem-24666	108	61	4.9122	4.9122	NUM
fbem-24666	108	62	0.052	0.052	NUM
fbem-24666	108	63	302.07	302.07	NUM
fbem-24666	108	64	sh1	sh1	NOUN
fbem-24666	108	65	2.8085	2.8085	NUM
fbem-24666	108	66	1.5294	1.5294	NUM
fbem-24666	108	67	0.1691	0.1691	NUM
fbem-24666	108	68	4.9122	4.9122	NUM
fbem-24666	108	69	0.052	0.052	NUM
fbem-24666	108	70	302.07	302.07	NUM
fbem-24666	108	71	sh2	sh2	NOUN
fbem-24666	108	72	0.2359	0.2359	NUM
fbem-24666	108	73	0.1046	0.1046	NUM
fbem-24666	108	74	0.0944	0.0944	NUM
fbem-24666	108	75	0.4975	0.4975	NUM
fbem-24666	108	76	0.000	0.000	NUM
fbem-24666	108	77	57.86	57.86	NUM
fbem-24666	108	78	the	the	DET
fbem-24666	108	79	tvp	tvp	ADJ
fbem-24666	108	80	-	-	PUNCT
fbem-24666	108	81	var	var	NOUN
fbem-24666	108	82	model	model	NOUN
fbem-24666	108	83	includes	include	VERB
fbem-24666	108	84	impulse	impulse	ADJ
fbem-24666	108	85	response	response	NOUN
fbem-24666	108	86	functions	function	NOUN
fbem-24666	108	87	86	86	NUM
fbem-24666	108	88	for	for	ADP
fbem-24666	108	89	the	the	DET
fbem-24666	108	90	entire	entire	ADJ
fbem-24666	108	91	sample	sample	NOUN
fbem-24666	108	92	period	period	NOUN
fbem-24666	108	93	,	,	PUNCT
fbem-24666	108	94	similar	similar	ADJ
fbem-24666	108	95	to	to	ADP
fbem-24666	108	96	those	those	PRON
fbem-24666	108	97	in	in	ADP
fbem-24666	108	98	traditional	traditional	ADJ
fbem-24666	108	99	var	var	NOUN
fbem-24666	108	100	models	model	NOUN
fbem-24666	108	101	,	,	PUNCT
fbem-24666	108	102	as	as	ADV
fbem-24666	108	103	well	well	ADV
fbem-24666	108	104	as	as	ADP
fbem-24666	108	105	impulse	impulse	ADJ
fbem-24666	108	106	response	response	NOUN
fbem-24666	108	107	functions	function	NOUN
fbem-24666	108	108	based	base	VERB
fbem-24666	108	109	on	on	ADP
fbem-24666	108	110	specific	specific	ADJ
fbem-24666	108	111	time	time	NOUN
fbem-24666	108	112	points	point	NOUN
fbem-24666	108	113	.	.	PUNCT
fbem-24666	109	1	considering	consider	VERB
fbem-24666	109	2	the	the	DET
fbem-24666	109	3	length	length	NOUN
fbem-24666	109	4	of	of	ADP
fbem-24666	109	5	the	the	DET
fbem-24666	109	6	study	study	NOUN
fbem-24666	109	7	period	period	NOUN
fbem-24666	109	8	,	,	PUNCT
fbem-24666	109	9	this	this	DET
fbem-24666	109	10	research	research	NOUN
fbem-24666	109	11	primarily	primarily	ADV
fbem-24666	109	12	analyzes	analyze	VERB
fbem-24666	109	13	the	the	DET
fbem-24666	109	14	impulse	impulse	ADJ
fbem-24666	109	15	response	response	NOUN
fbem-24666	109	16	results	result	NOUN
fbem-24666	109	17	at	at	ADP
fbem-24666	109	18	equidistant	equidistant	ADJ
fbem-24666	109	19	intervals	interval	NOUN
fbem-24666	109	20	.	.	PUNCT
fbem-24666	110	1	figure	figure	NOUN
fbem-24666	110	2	1	1	NUM
fbem-24666	110	3	.	.	PUNCT
fbem-24666	111	1	full	full	ADJ
fbem-24666	111	2	sample	sample	NOUN
fbem-24666	111	3	period	period	NOUN
fbem-24666	111	4	impulse	impulse	ADJ
fbem-24666	111	5	response	response	NOUN
fbem-24666	111	6	function	function	NOUN
fbem-24666	111	7	of	of	ADP
fbem-24666	111	8	u.s	u.s	PROPN
fbem-24666	111	9	.	.	PROPN
fbem-24666	111	10	federal	federal	ADJ
fbem-24666	111	11	funds	fund	NOUN
fbem-24666	111	12	rate	rate	NOUN
fbem-24666	111	13	on	on	ADP
fbem-24666	111	14	china	china	PROPN
fbem-24666	111	15	's	's	PART
fbem-24666	111	16	total	total	ADJ
fbem-24666	111	17	output	output	NOUN
fbem-24666	111	18	figure	figure	NOUN
fbem-24666	111	19	1	1	NUM
fbem-24666	111	20	depicts	depict	VERB
fbem-24666	111	21	the	the	DET
fbem-24666	111	22	impulse	impulse	ADJ
fbem-24666	111	23	response	response	NOUN
fbem-24666	111	24	function	function	NOUN
fbem-24666	111	25	of	of	ADP
fbem-24666	111	26	the	the	DET
fbem-24666	111	27	u.s	u.s	PROPN
fbem-24666	111	28	.	.	PROPN
fbem-24666	111	29	federal	federal	ADJ
fbem-24666	111	30	funds	fund	NOUN
fbem-24666	111	31	rate	rate	NOUN
fbem-24666	111	32	on	on	ADP
fbem-24666	111	33	china	china	PROPN
fbem-24666	111	34	's	's	PART
fbem-24666	111	35	total	total	ADJ
fbem-24666	111	36	output	output	NOUN
fbem-24666	111	37	over	over	ADP
fbem-24666	111	38	the	the	DET
fbem-24666	111	39	full	full	ADJ
fbem-24666	111	40	sample	sample	NOUN
fbem-24666	111	41	period	period	NOUN
fbem-24666	111	42	from	from	ADP
fbem-24666	111	43	march	march	PROPN
fbem-24666	111	44	2022	2022	NUM
fbem-24666	111	45	to	to	ADP
fbem-24666	111	46	the	the	DET
fbem-24666	111	47	end	end	NOUN
fbem-24666	111	48	of	of	ADP
fbem-24666	111	49	august	august	PROPN
fbem-24666	111	50	2023	2023	NUM
fbem-24666	111	51	.	.	PUNCT
fbem-24666	112	1	the	the	DET
fbem-24666	112	2	figure	figure	NOUN
fbem-24666	112	3	shows	show	VERB
fbem-24666	112	4	that	that	SCONJ
fbem-24666	112	5	china	china	PROPN
fbem-24666	112	6	's	's	PART
fbem-24666	112	7	total	total	ADJ
fbem-24666	112	8	output	output	NOUN
fbem-24666	112	9	experiences	experience	VERB
fbem-24666	112	10	a	a	DET
fbem-24666	112	11	negative	negative	ADJ
fbem-24666	112	12	shock	shock	NOUN
fbem-24666	112	13	effect	effect	NOUN
fbem-24666	112	14	from	from	ADP
fbem-24666	112	15	the	the	DET
fbem-24666	112	16	federal	federal	PROPN
fbem-24666	112	17	reserve	reserve	PROPN
fbem-24666	112	18	's	's	PART
fbem-24666	112	19	interest	interest	NOUN
fbem-24666	112	20	rate	rate	NOUN
fbem-24666	112	21	hikes	hike	NOUN
fbem-24666	112	22	,	,	PUNCT
fbem-24666	112	23	with	with	ADP
fbem-24666	112	24	the	the	DET
fbem-24666	112	25	most	most	ADV
fbem-24666	112	26	significant	significant	ADJ
fbem-24666	112	27	negative	negative	ADJ
fbem-24666	112	28	impact	impact	NOUN
fbem-24666	112	29	occurring	occur	VERB
fbem-24666	112	30	in	in	ADP
fbem-24666	112	31	february	february	PROPN
fbem-24666	112	32	and	and	CCONJ
fbem-24666	112	33	march	march	PROPN
fbem-24666	112	34	2023	2023	NUM
fbem-24666	112	35	.	.	PUNCT
fbem-24666	113	1	however	however	ADV
fbem-24666	113	2	,	,	PUNCT
fbem-24666	113	3	the	the	DET
fbem-24666	113	4	overall	overall	ADJ
fbem-24666	113	5	positive	positive	ADJ
fbem-24666	113	6	and	and	CCONJ
fbem-24666	113	7	negative	negative	ADJ
fbem-24666	113	8	impacts	impact	NOUN
fbem-24666	113	9	are	be	AUX
fbem-24666	113	10	not	not	PART
fbem-24666	113	11	significant	significant	ADJ
fbem-24666	113	12	,	,	PUNCT
fbem-24666	113	13	indicating	indicate	VERB
fbem-24666	113	14	a	a	DET
fbem-24666	113	15	weak	weak	ADJ
fbem-24666	113	16	influence	influence	NOUN
fbem-24666	113	17	.	.	PUNCT
fbem-24666	114	1	the	the	DET
fbem-24666	114	2	shock	shock	NOUN
fbem-24666	114	3	effect	effect	NOUN
fbem-24666	114	4	is	be	AUX
fbem-24666	114	5	largely	largely	ADV
fbem-24666	114	6	absorbed	absorb	VERB
fbem-24666	114	7	,	,	PUNCT
fbem-24666	114	8	with	with	ADP
fbem-24666	114	9	the	the	DET
fbem-24666	114	10	response	response	NOUN
fbem-24666	114	11	returning	return	VERB
fbem-24666	114	12	to	to	ADP
fbem-24666	114	13	around	around	ADP
fbem-24666	114	14	the	the	DET
fbem-24666	114	15	zero	zero	NUM
fbem-24666	114	16	axis	axis	NOUN
fbem-24666	114	17	at	at	ADP
fbem-24666	114	18	lags	lag	NOUN
fbem-24666	114	19	of	of	ADP
fbem-24666	114	20	8	8	NUM
fbem-24666	114	21	and	and	CCONJ
fbem-24666	114	22	12	12	NUM
fbem-24666	114	23	periods	period	NOUN
fbem-24666	114	24	.	.	PUNCT
fbem-24666	115	1	the	the	DET
fbem-24666	115	2	single	single	ADJ
fbem-24666	115	3	shock	shock	NOUN
fbem-24666	115	4	effect	effect	NOUN
fbem-24666	115	5	of	of	ADP
fbem-24666	115	6	the	the	DET
fbem-24666	115	7	monetary	monetary	ADJ
fbem-24666	115	8	policy	policy	NOUN
fbem-24666	115	9	transmission	transmission	NOUN
fbem-24666	115	10	is	be	AUX
fbem-24666	115	11	mostly	mostly	ADV
fbem-24666	115	12	absorbed	absorb	VERB
fbem-24666	115	13	within	within	ADP
fbem-24666	115	14	a	a	DET
fbem-24666	115	15	short	short	ADJ
fbem-24666	115	16	period	period	NOUN
fbem-24666	115	17	.	.	PUNCT
fbem-24666	116	1	figure	figure	NOUN
fbem-24666	116	2	2	2	NUM
fbem-24666	116	3	.	.	PUNCT
fbem-24666	116	4	full	full	ADJ
fbem-24666	116	5	sample	sample	NOUN
fbem-24666	116	6	period	period	NOUN
fbem-24666	116	7	impulse	impulse	ADJ
fbem-24666	116	8	response	response	NOUN
fbem-24666	116	9	function	function	NOUN
fbem-24666	116	10	of	of	ADP
fbem-24666	116	11	u.s	u.s	PROPN
fbem-24666	116	12	.	.	PROPN
fbem-24666	116	13	federal	federal	ADJ
fbem-24666	116	14	funds	fund	NOUN
fbem-24666	116	15	rate	rate	NOUN
fbem-24666	116	16	on	on	ADP
fbem-24666	116	17	chinese	chinese	ADJ
fbem-24666	116	18	interest	interest	NOUN
fbem-24666	116	19	rates	rate	NOUN
fbem-24666	116	20	figure	figure	VERB
fbem-24666	116	21	2	2	NUM
fbem-24666	116	22	illustrates	illustrate	VERB
fbem-24666	116	23	the	the	DET
fbem-24666	116	24	negative	negative	ADJ
fbem-24666	116	25	shock	shock	NOUN
fbem-24666	116	26	of	of	ADP
fbem-24666	116	27	the	the	DET
fbem-24666	116	28	u.s	u.s	PROPN
fbem-24666	116	29	.	.	PROPN
fbem-24666	116	30	federal	federal	ADJ
fbem-24666	116	31	funds	fund	NOUN
fbem-24666	116	32	rate	rate	NOUN
fbem-24666	116	33	on	on	ADP
fbem-24666	116	34	chinese	chinese	ADJ
fbem-24666	116	35	interest	interest	NOUN
fbem-24666	116	36	rates	rate	NOUN
fbem-24666	116	37	.	.	PUNCT
fbem-24666	117	1	in	in	ADP
fbem-24666	117	2	the	the	DET
fbem-24666	117	3	short	short	ADJ
fbem-24666	117	4	term	term	NOUN
fbem-24666	117	5	,	,	PUNCT
fbem-24666	117	6	the	the	DET
fbem-24666	117	7	negative	negative	ADJ
fbem-24666	117	8	impact	impact	NOUN
fbem-24666	117	9	shows	show	VERB
fbem-24666	117	10	a	a	DET
fbem-24666	117	11	fluctuating	fluctuate	VERB
fbem-24666	117	12	increase	increase	NOUN
fbem-24666	117	13	,	,	PUNCT
fbem-24666	117	14	peaking	peak	VERB
fbem-24666	117	15	in	in	ADP
fbem-24666	117	16	march	march	PROPN
fbem-24666	117	17	2023	2023	NUM
fbem-24666	117	18	,	,	PUNCT
fbem-24666	117	19	after	after	ADP
fbem-24666	117	20	which	which	PRON
fbem-24666	117	21	the	the	DET
fbem-24666	117	22	impact	impact	NOUN
fbem-24666	117	23	gradually	gradually	ADV
fbem-24666	117	24	diminishes	diminish	VERB
fbem-24666	117	25	.	.	PUNCT
fbem-24666	118	1	this	this	PRON
fbem-24666	118	2	indicates	indicate	VERB
fbem-24666	118	3	that	that	SCONJ
fbem-24666	118	4	chinese	chinese	ADJ
fbem-24666	118	5	monetary	monetary	ADJ
fbem-24666	118	6	policy	policy	NOUN
fbem-24666	118	7	exhibits	exhibit	VERB
fbem-24666	118	8	a	a	DET
fbem-24666	118	9	shortterm	shortterm	NOUN
fbem-24666	118	10	behavior	behavior	NOUN
fbem-24666	118	11	contrary	contrary	ADJ
fbem-24666	118	12	to	to	ADP
fbem-24666	118	13	u.s	u.s	PROPN
fbem-24666	118	14	.	.	PROPN
fbem-24666	118	15	monetary	monetary	ADJ
fbem-24666	118	16	policy	policy	NOUN
fbem-24666	118	17	during	during	ADP
fbem-24666	118	18	the	the	DET
fbem-24666	118	19	u.s	u.s	PROPN
fbem-24666	118	20	.	.	PROPN
fbem-24666	118	21	interest	interest	NOUN
fbem-24666	118	22	rate	rate	NOUN
fbem-24666	118	23	hike	hike	NOUN
fbem-24666	118	24	cycle	cycle	NOUN
fbem-24666	118	25	.	.	PUNCT
fbem-24666	119	1	in	in	ADP
fbem-24666	119	2	terms	term	NOUN
fbem-24666	119	3	of	of	ADP
fbem-24666	119	4	impact	impact	NOUN
fbem-24666	119	5	magnitude	magnitude	NOUN
fbem-24666	119	6	,	,	PUNCT
fbem-24666	119	7	a	a	DET
fbem-24666	119	8	single	single	ADJ
fbem-24666	119	9	unit	unit	NOUN
fbem-24666	119	10	increase	increase	NOUN
fbem-24666	119	11	in	in	ADP
fbem-24666	119	12	the	the	DET
fbem-24666	119	13	u.s	u.s	PROPN
fbem-24666	119	14	.	.	PROPN
fbem-24666	119	15	interest	interest	NOUN
fbem-24666	119	16	rate	rate	NOUN
fbem-24666	119	17	results	result	NOUN
fbem-24666	119	18	in	in	ADP
fbem-24666	119	19	a	a	DET
fbem-24666	119	20	maximum	maximum	ADJ
fbem-24666	119	21	negative	negative	ADJ
fbem-24666	119	22	impact	impact	NOUN
fbem-24666	119	23	on	on	ADP
fbem-24666	119	24	chinese	chinese	ADJ
fbem-24666	119	25	interest	interest	NOUN
fbem-24666	119	26	rates	rate	NOUN
fbem-24666	119	27	of	of	ADP
fbem-24666	119	28	less	less	ADJ
fbem-24666	119	29	than	than	ADP
fbem-24666	119	30	0.001	0.001	NUM
fbem-24666	119	31	units	unit	NOUN
fbem-24666	119	32	.	.	PUNCT
fbem-24666	120	1	overall	overall	ADV
fbem-24666	120	2	,	,	PUNCT
fbem-24666	120	3	the	the	DET
fbem-24666	120	4	impact	impact	NOUN
fbem-24666	120	5	is	be	AUX
fbem-24666	120	6	not	not	PART
fbem-24666	120	7	significant	significant	ADJ
fbem-24666	120	8	and	and	CCONJ
fbem-24666	120	9	remains	remain	VERB
fbem-24666	120	10	relatively	relatively	ADV
fbem-24666	120	11	limited	limited	ADJ
fbem-24666	120	12	.	.	PUNCT
fbem-24666	121	1	figure	figure	NOUN
fbem-24666	121	2	3	3	NUM
fbem-24666	121	3	.	.	PUNCT
fbem-24666	121	4	full	full	ADJ
fbem-24666	121	5	sample	sample	NOUN
fbem-24666	121	6	period	period	NOUN
fbem-24666	121	7	impulse	impulse	ADJ
fbem-24666	121	8	response	response	NOUN
fbem-24666	121	9	function	function	NOUN
fbem-24666	121	10	of	of	ADP
fbem-24666	121	11	chinese	chinese	ADJ
fbem-24666	121	12	interest	interest	NOUN
fbem-24666	121	13	rates	rate	NOUN
fbem-24666	121	14	on	on	ADP
fbem-24666	121	15	gdp	gdp	NOUN
fbem-24666	121	16	figure	figure	NOUN
fbem-24666	121	17	3	3	NUM
fbem-24666	121	18	shows	show	VERB
fbem-24666	121	19	that	that	SCONJ
fbem-24666	121	20	the	the	DET
fbem-24666	121	21	increase	increase	NOUN
fbem-24666	121	22	in	in	ADP
fbem-24666	121	23	chinese	chinese	ADJ
fbem-24666	121	24	interest	interest	NOUN
fbem-24666	121	25	rates	rate	NOUN
fbem-24666	121	26	has	have	VERB
fbem-24666	121	27	both	both	CCONJ
fbem-24666	121	28	positive	positive	ADJ
fbem-24666	121	29	and	and	CCONJ
fbem-24666	121	30	negative	negative	ADJ
fbem-24666	121	31	impacts	impact	NOUN
fbem-24666	121	32	on	on	ADP
fbem-24666	121	33	gdp	gdp	NOUN
fbem-24666	121	34	output	output	NOUN
fbem-24666	121	35	.	.	PUNCT
fbem-24666	122	1	before	before	ADP
fbem-24666	122	2	2023	2023	NUM
fbem-24666	122	3	,	,	PUNCT
fbem-24666	122	4	the	the	DET
fbem-24666	122	5	overall	overall	ADJ
fbem-24666	122	6	effect	effect	NOUN
fbem-24666	122	7	is	be	AUX
fbem-24666	122	8	a	a	DET
fbem-24666	122	9	negative	negative	ADJ
fbem-24666	122	10	shock	shock	NOUN
fbem-24666	122	11	,	,	PUNCT
fbem-24666	122	12	with	with	ADP
fbem-24666	122	13	the	the	DET
fbem-24666	122	14	maximum	maximum	ADJ
fbem-24666	122	15	negative	negative	ADJ
fbem-24666	122	16	impact	impact	NOUN
fbem-24666	122	17	being	be	AUX
fbem-24666	122	18	less	less	ADJ
fbem-24666	122	19	than	than	ADP
fbem-24666	122	20	0.0005	0.0005	NUM
fbem-24666	122	21	,	,	PUNCT
fbem-24666	122	22	and	and	CCONJ
fbem-24666	122	23	the	the	DET
fbem-24666	122	24	shock	shock	NOUN
fbem-24666	122	25	effect	effect	NOUN
fbem-24666	122	26	is	be	AUX
fbem-24666	122	27	not	not	PART
fbem-24666	122	28	significant	significant	ADJ
fbem-24666	122	29	.	.	PUNCT
fbem-24666	123	1	the	the	DET
fbem-24666	123	2	greatest	great	ADJ
fbem-24666	123	3	impact	impact	NOUN
fbem-24666	123	4	occurred	occur	VERB
fbem-24666	123	5	between	between	ADP
fbem-24666	123	6	august	august	PROPN
fbem-24666	123	7	and	and	CCONJ
fbem-24666	123	8	september	september	PROPN
fbem-24666	123	9	2022	2022	NUM
fbem-24666	123	10	.	.	PUNCT
fbem-24666	124	1	interest	interest	NOUN
fbem-24666	124	2	rates	rate	NOUN
fbem-24666	124	3	peaked	peak	VERB
fbem-24666	124	4	in	in	ADP
fbem-24666	124	5	the	the	DET
fbem-24666	124	6	first	first	ADJ
fbem-24666	124	7	and	and	CCONJ
fbem-24666	124	8	late	late	ADJ
fbem-24666	124	9	second	second	ADJ
fbem-24666	124	10	quarters	quarter	NOUN
fbem-24666	124	11	of	of	ADP
fbem-24666	124	12	2023	2023	NUM
fbem-24666	124	13	,	,	PUNCT
fbem-24666	124	14	with	with	ADP
fbem-24666	124	15	the	the	DET
fbem-24666	124	16	positive	positive	ADJ
fbem-24666	124	17	impact	impact	NOUN
fbem-24666	124	18	effect	effect	NOUN
fbem-24666	124	19	exceeding	exceed	VERB
fbem-24666	124	20	0.001	0.001	NUM
fbem-24666	124	21	at	at	ADP
fbem-24666	124	22	the	the	DET
fbem-24666	124	23	end	end	NOUN
fbem-24666	124	24	of	of	ADP
fbem-24666	124	25	the	the	DET
fbem-24666	124	26	first	first	ADJ
fbem-24666	124	27	quarter	quarter	NOUN
fbem-24666	124	28	of	of	ADP
fbem-24666	124	29	2023	2023	NUM
fbem-24666	124	30	.	.	PUNCT
fbem-24666	125	1	each	each	DET
fbem-24666	125	2	unit	unit	NOUN
fbem-24666	125	3	shock	shock	NOUN
fbem-24666	125	4	of	of	ADP
fbem-24666	125	5	chinese	chinese	ADJ
fbem-24666	125	6	interest	interest	NOUN
fbem-24666	125	7	rates	rate	NOUN
fbem-24666	125	8	brings	bring	VERB
fbem-24666	125	9	a	a	DET
fbem-24666	125	10	small	small	ADJ
fbem-24666	125	11	positive	positive	ADJ
fbem-24666	125	12	effect	effect	NOUN
fbem-24666	125	13	on	on	ADP
fbem-24666	125	14	output	output	NOUN
fbem-24666	125	15	overall	overall	ADJ
fbem-24666	125	16	,	,	PUNCT
fbem-24666	125	17	with	with	ADP
fbem-24666	125	18	an	an	DET
fbem-24666	125	19	8	8	NUM
fbem-24666	125	20	-	-	PUNCT
fbem-24666	125	21	period	period	NOUN
fbem-24666	125	22	lag	lag	NOUN
fbem-24666	125	23	.	.	PUNCT
fbem-24666	126	1	the	the	DET
fbem-24666	126	2	overall	overall	ADJ
fbem-24666	126	3	significance	significance	NOUN
fbem-24666	126	4	of	of	ADP
fbem-24666	126	5	the	the	DET
fbem-24666	126	6	impact	impact	NOUN
fbem-24666	126	7	of	of	ADP
fbem-24666	126	8	interest	interest	NOUN
fbem-24666	126	9	rates	rate	NOUN
fbem-24666	126	10	on	on	ADP
fbem-24666	126	11	output	output	NOUN
fbem-24666	126	12	during	during	ADP
fbem-24666	126	13	the	the	DET
fbem-24666	126	14	new	new	ADJ
fbem-24666	126	15	rate	rate	NOUN
fbem-24666	126	16	hike	hike	NOUN
fbem-24666	126	17	cycle	cycle	NOUN
fbem-24666	126	18	from	from	ADP
fbem-24666	126	19	march	march	PROPN
fbem-24666	126	20	2022	2022	NUM
fbem-24666	126	21	to	to	ADP
fbem-24666	126	22	the	the	DET
fbem-24666	126	23	end	end	NOUN
fbem-24666	126	24	of	of	ADP
fbem-24666	126	25	august	august	PROPN
fbem-24666	126	26	2023	2023	NUM
fbem-24666	126	27	is	be	AUX
fbem-24666	126	28	relatively	relatively	ADV
fbem-24666	126	29	small	small	ADJ
fbem-24666	126	30	,	,	PUNCT
fbem-24666	126	31	indicating	indicate	VERB
fbem-24666	126	32	that	that	SCONJ
fbem-24666	126	33	investment	investment	NOUN
fbem-24666	126	34	demand	demand	NOUN
fbem-24666	126	35	in	in	ADP
fbem-24666	126	36	china	china	PROPN
fbem-24666	126	37	is	be	AUX
fbem-24666	126	38	less	less	ADV
fbem-24666	126	39	sensitive	sensitive	ADJ
fbem-24666	126	40	to	to	ADP
fbem-24666	126	41	interest	interest	NOUN
fbem-24666	126	42	rate	rate	NOUN
fbem-24666	126	43	changes	change	NOUN
fbem-24666	126	44	during	during	ADP
fbem-24666	126	45	this	this	DET
fbem-24666	126	46	period	period	NOUN
fbem-24666	126	47	.	.	PUNCT
fbem-24666	127	1	as	as	SCONJ
fbem-24666	127	2	shown	show	VERB
fbem-24666	127	3	in	in	ADP
fbem-24666	127	4	the	the	DET
fbem-24666	127	5	impulse	impulse	ADJ
fbem-24666	127	6	effect	effect	NOUN
fbem-24666	127	7	trends	trend	NOUN
fbem-24666	127	8	,	,	PUNCT
fbem-24666	127	9	the	the	DET
fbem-24666	127	10	spillover	spillover	NOUN
fbem-24666	127	11	effect	effect	NOUN
fbem-24666	127	12	brought	bring	VERB
fbem-24666	127	13	by	by	ADP
fbem-24666	127	14	the	the	DET
fbem-24666	127	15	interest	interest	NOUN
fbem-24666	127	16	rate	rate	NOUN
fbem-24666	127	17	channel	channel	NOUN
fbem-24666	127	18	gradually	gradually	ADV
fbem-24666	127	19	decreases	decrease	VERB
fbem-24666	127	20	over	over	ADP
fbem-24666	127	21	time	time	NOUN
fbem-24666	127	22	.	.	PUNCT
fbem-24666	128	1	figure	figure	VERB
fbem-24666	128	2	4	4	NUM
fbem-24666	128	3	.	.	PUNCT
fbem-24666	129	1	impulse	impulse	ADJ
fbem-24666	129	2	response	response	NOUN
fbem-24666	129	3	function	function	NOUN
fbem-24666	129	4	of	of	ADP
fbem-24666	129	5	net	net	ADJ
fbem-24666	129	6	export	export	NOUN
fbem-24666	129	7	spillover	spillover	NOUN
fbem-24666	129	8	effect	effect	NOUN
fbem-24666	129	9	figure	figure	NOUN
fbem-24666	129	10	4	4	NUM
fbem-24666	129	11	shows	show	VERB
fbem-24666	129	12	the	the	DET
fbem-24666	129	13	impulse	impulse	ADJ
fbem-24666	129	14	response	response	NOUN
fbem-24666	129	15	function	function	NOUN
fbem-24666	129	16	of	of	ADP
fbem-24666	129	17	china	china	PROPN
fbem-24666	129	18	's	's	PART
fbem-24666	129	19	net	net	ADJ
fbem-24666	129	20	exports	export	NOUN
fbem-24666	129	21	,	,	PUNCT
fbem-24666	129	22	indicating	indicate	VERB
fbem-24666	129	23	china	china	PROPN
fbem-24666	129	24	's	's	PART
fbem-24666	129	25	trade	trade	NOUN
fbem-24666	129	26	net	net	ADJ
fbem-24666	129	27	export	export	NOUN
fbem-24666	129	28	reaction	reaction	NOUN
fbem-24666	129	29	to	to	ADP
fbem-24666	129	30	u.s	u.s	PROPN
fbem-24666	129	31	.	.	PROPN
fbem-24666	129	32	interest	interest	NOUN
fbem-24666	129	33	rate	rate	NOUN
fbem-24666	129	34	hikes	hike	NOUN
fbem-24666	129	35	.	.	PUNCT
fbem-24666	130	1	the	the	DET
fbem-24666	130	2	short	short	ADJ
fbem-24666	130	3	-	-	PUNCT
fbem-24666	130	4	term	term	NOUN
fbem-24666	130	5	positive	positive	ADJ
fbem-24666	130	6	impact	impact	NOUN
fbem-24666	130	7	of	of	ADP
fbem-24666	130	8	the	the	DET
fbem-24666	130	9	federal	federal	PROPN
fbem-24666	130	10	reserve	reserve	PROPN
fbem-24666	130	11	's	's	PART
fbem-24666	130	12	interest	interest	NOUN
fbem-24666	130	13	rate	rate	NOUN
fbem-24666	130	14	hikes	hike	NOUN
fbem-24666	130	15	on	on	ADP
fbem-24666	130	16	china	china	PROPN
fbem-24666	130	17	's	's	PART
fbem-24666	130	18	net	net	ADJ
fbem-24666	130	19	exports	export	NOUN
fbem-24666	130	20	persisted	persist	VERB
fbem-24666	130	21	until	until	ADP
fbem-24666	130	22	march	march	PROPN
fbem-24666	130	23	2023	2023	NUM
fbem-24666	130	24	,	,	PUNCT
fbem-24666	130	25	peaking	peak	VERB
fbem-24666	130	26	at	at	ADP
fbem-24666	130	27	0.0125	0.0125	NUM
fbem-24666	130	28	in	in	ADP
fbem-24666	130	29	the	the	DET
fbem-24666	130	30	early	early	ADJ
fbem-24666	130	31	second	second	ADJ
fbem-24666	130	32	quarter	quarter	NOUN
fbem-24666	130	33	of	of	ADP
fbem-24666	130	34	2022	2022	NUM
fbem-24666	130	35	,	,	PUNCT
fbem-24666	130	36	with	with	ADP
fbem-24666	130	37	a	a	DET
fbem-24666	130	38	significant	significant	ADJ
fbem-24666	130	39	effect	effect	NOUN
fbem-24666	130	40	.	.	PUNCT
fbem-24666	131	1	after	after	ADP
fbem-24666	131	2	march	march	PROPN
fbem-24666	131	3	2023	2023	NUM
fbem-24666	131	4	,	,	PUNCT
fbem-24666	131	5	the	the	DET
fbem-24666	131	6	impact	impact	NOUN
fbem-24666	131	7	turned	turn	VERB
fbem-24666	131	8	negative	negative	ADJ
fbem-24666	131	9	but	but	CCONJ
fbem-24666	131	10	remained	remain	VERB
fbem-24666	131	11	below	below	ADP
fbem-24666	131	12	0.005	0.005	NUM
fbem-24666	131	13	,	,	PUNCT
fbem-24666	131	14	indicating	indicate	VERB
fbem-24666	131	15	it	it	PRON
fbem-24666	131	16	was	be	AUX
fbem-24666	131	17	not	not	PART
fbem-24666	131	18	significant	significant	ADJ
fbem-24666	131	19	.	.	PUNCT
fbem-24666	132	1	the	the	DET
fbem-24666	132	2	shock	shock	NOUN
fbem-24666	132	3	does	do	AUX
fbem-24666	132	4	not	not	PART
fbem-24666	132	5	fluctuate	fluctuate	VERB
fbem-24666	132	6	around	around	ADP
fbem-24666	132	7	the	the	DET
fbem-24666	132	8	zero	zero	NUM
fbem-24666	132	9	axis	axis	NOUN
fbem-24666	132	10	with	with	ADP
fbem-24666	132	11	8	8	NUM
fbem-24666	132	12	-	-	PUNCT
fbem-24666	132	13	period	period	NOUN
fbem-24666	132	14	and	and	CCONJ
fbem-24666	132	15	12	12	NUM
fbem-24666	132	16	-	-	PUNCT
fbem-24666	132	17	period	period	NOUN
fbem-24666	132	18	lags	lag	NOUN
fbem-24666	132	19	.	.	PUNCT
fbem-24666	133	1	the	the	DET
fbem-24666	133	2	overall	overall	ADJ
fbem-24666	133	3	spillover	spillover	ADJ
fbem-24666	133	4	effect	effect	NOUN
fbem-24666	133	5	of	of	ADP
fbem-24666	133	6	net	net	ADJ
fbem-24666	133	7	exports	export	NOUN
fbem-24666	133	8	shows	show	VERB
fbem-24666	133	9	a	a	DET
fbem-24666	133	10	decreasing	decrease	VERB
fbem-24666	133	11	trend	trend	NOUN
fbem-24666	133	12	in	in	ADP
fbem-24666	133	13	volatility	volatility	NOUN
fbem-24666	133	14	,	,	PUNCT
fbem-24666	133	15	opposite	opposite	ADJ
fbem-24666	133	16	to	to	ADP
fbem-24666	133	17	the	the	DET
fbem-24666	133	18	increasing	increase	VERB
fbem-24666	133	19	trend	trend	NOUN
fbem-24666	133	20	in	in	ADP
fbem-24666	133	21	rmb	rmb	NOUN
fbem-24666	133	22	volatility	volatility	NOUN
fbem-24666	133	23	,	,	PUNCT
fbem-24666	133	24	which	which	PRON
fbem-24666	133	25	aligns	align	VERB
fbem-24666	133	26	with	with	ADP
fbem-24666	133	27	economic	economic	ADJ
fbem-24666	133	28	principles	principle	NOUN
fbem-24666	133	29	.	.	PUNCT
fbem-24666	134	1	87	87	NUM
fbem-24666	134	2	figure	figure	NOUN
fbem-24666	134	3	5	5	NUM
fbem-24666	134	4	.	.	PUNCT
fbem-24666	134	5	full	full	ADJ
fbem-24666	134	6	sample	sample	NOUN
fbem-24666	134	7	period	period	NOUN
fbem-24666	134	8	impulse	impulse	ADJ
fbem-24666	134	9	response	response	NOUN
fbem-24666	134	10	function	function	NOUN
fbem-24666	134	11	of	of	ADP
fbem-24666	134	12	the	the	DET
fbem-24666	134	13	shanghai	shanghai	PROPN
fbem-24666	134	14	composite	composite	PROPN
fbem-24666	134	15	index	index	NOUN
fbem-24666	134	16	figure	figure	NOUN
fbem-24666	134	17	5	5	NUM
fbem-24666	134	18	illustrates	illustrate	VERB
fbem-24666	134	19	the	the	DET
fbem-24666	134	20	short	short	ADJ
fbem-24666	134	21	-	-	PUNCT
fbem-24666	134	22	term	term	NOUN
fbem-24666	134	23	fluctuating	fluctuate	VERB
fbem-24666	134	24	impact	impact	NOUN
fbem-24666	134	25	of	of	ADP
fbem-24666	134	26	the	the	DET
fbem-24666	134	27	federal	federal	PROPN
fbem-24666	134	28	reserve	reserve	PROPN
fbem-24666	134	29	's	's	PART
fbem-24666	134	30	tight	tight	ADJ
fbem-24666	134	31	monetary	monetary	ADJ
fbem-24666	134	32	policy	policy	NOUN
fbem-24666	134	33	on	on	ADP
fbem-24666	134	34	the	the	DET
fbem-24666	134	35	chinese	chinese	ADJ
fbem-24666	134	36	stock	stock	NOUN
fbem-24666	134	37	market	market	NOUN
fbem-24666	134	38	.	.	PUNCT
fbem-24666	135	1	early	early	ADJ
fbem-24666	135	2	negative	negative	ADJ
fbem-24666	135	3	shock	shock	NOUN
fbem-24666	135	4	effects	effect	NOUN
fbem-24666	135	5	were	be	AUX
fbem-24666	135	6	significant	significant	ADJ
fbem-24666	135	7	,	,	PUNCT
fbem-24666	135	8	while	while	SCONJ
fbem-24666	135	9	later	later	ADJ
fbem-24666	135	10	fluctuations	fluctuation	NOUN
fbem-24666	135	11	shifted	shift	VERB
fbem-24666	135	12	towards	towards	ADP
fbem-24666	135	13	positive	positive	ADJ
fbem-24666	135	14	impacts	impact	NOUN
fbem-24666	135	15	.	.	PUNCT
fbem-24666	136	1	the	the	DET
fbem-24666	136	2	peak	peak	ADJ
fbem-24666	136	3	negative	negative	ADJ
fbem-24666	136	4	shock	shock	NOUN
fbem-24666	136	5	effect	effect	NOUN
fbem-24666	136	6	occurred	occur	VERB
fbem-24666	136	7	in	in	ADP
fbem-24666	136	8	april	april	PROPN
fbem-24666	136	9	2022	2022	NUM
fbem-24666	136	10	,	,	PUNCT
fbem-24666	136	11	ending	end	VERB
fbem-24666	136	12	in	in	ADP
fbem-24666	136	13	midsecond	midsecond	NOUN
fbem-24666	136	14	quarter	quarter	NOUN
fbem-24666	136	15	of	of	ADP
fbem-24666	136	16	2022	2022	NUM
fbem-24666	136	17	.	.	PUNCT
fbem-24666	137	1	it	it	PRON
fbem-24666	137	2	then	then	ADV
fbem-24666	137	3	showed	show	VERB
fbem-24666	137	4	an	an	DET
fbem-24666	137	5	insignificant	insignificant	ADJ
fbem-24666	137	6	negative	negative	ADJ
fbem-24666	137	7	shock	shock	NOUN
fbem-24666	137	8	until	until	ADP
fbem-24666	137	9	mid	mid	NOUN
fbem-24666	137	10	-	-	NOUN
fbem-24666	137	11	march	march	NOUN
fbem-24666	137	12	of	of	ADP
fbem-24666	137	13	the	the	DET
fbem-24666	137	14	following	following	ADJ
fbem-24666	137	15	year	year	NOUN
fbem-24666	137	16	,	,	PUNCT
fbem-24666	137	17	after	after	ADP
fbem-24666	137	18	which	which	PRON
fbem-24666	137	19	it	it	PRON
fbem-24666	137	20	shifted	shift	VERB
fbem-24666	137	21	towards	towards	ADP
fbem-24666	137	22	a	a	DET
fbem-24666	137	23	positive	positive	ADJ
fbem-24666	137	24	impact	impact	NOUN
fbem-24666	137	25	,	,	PUNCT
fbem-24666	137	26	reaching	reach	VERB
fbem-24666	137	27	its	its	PRON
fbem-24666	137	28	peak	peak	NOUN
fbem-24666	137	29	positive	positive	ADJ
fbem-24666	137	30	effect	effect	NOUN
fbem-24666	137	31	in	in	ADP
fbem-24666	137	32	late	late	ADJ
fbem-24666	137	33	june	june	PROPN
fbem-24666	137	34	and	and	CCONJ
fbem-24666	137	35	early	early	ADJ
fbem-24666	137	36	july	july	PROPN
fbem-24666	137	37	.	.	PUNCT
fbem-24666	138	1	the	the	DET
fbem-24666	138	2	overall	overall	ADJ
fbem-24666	138	3	impact	impact	NOUN
fbem-24666	138	4	remained	remain	VERB
fbem-24666	138	5	positive	positive	ADJ
fbem-24666	138	6	with	with	ADP
fbem-24666	138	7	an	an	DET
fbem-24666	138	8	8	8	NUM
fbem-24666	138	9	-	-	PUNCT
fbem-24666	138	10	period	period	NOUN
fbem-24666	138	11	lag	lag	NOUN
fbem-24666	138	12	.	.	PUNCT
fbem-24666	139	1	from	from	ADP
fbem-24666	139	2	the	the	DET
fbem-24666	139	3	perspective	perspective	NOUN
fbem-24666	139	4	of	of	ADP
fbem-24666	139	5	corporate	corporate	ADJ
fbem-24666	139	6	value	value	NOUN
fbem-24666	139	7	,	,	PUNCT
fbem-24666	139	8	listed	list	VERB
fbem-24666	139	9	companies	company	NOUN
fbem-24666	139	10	adjust	adjust	VERB
fbem-24666	139	11	their	their	PRON
fbem-24666	139	12	production	production	NOUN
fbem-24666	139	13	,	,	PUNCT
fbem-24666	139	14	labor	labor	NOUN
fbem-24666	139	15	,	,	PUNCT
fbem-24666	139	16	operation	operation	NOUN
fbem-24666	139	17	,	,	PUNCT
fbem-24666	139	18	and	and	CCONJ
fbem-24666	139	19	investment	investment	NOUN
fbem-24666	139	20	strategies	strategy	NOUN
fbem-24666	139	21	based	base	VERB
fbem-24666	139	22	on	on	ADP
fbem-24666	139	23	exchange	exchange	NOUN
fbem-24666	139	24	rate	rate	NOUN
fbem-24666	139	25	expectations	expectation	NOUN
fbem-24666	139	26	and	and	CCONJ
fbem-24666	139	27	interest	interest	NOUN
fbem-24666	139	28	rate	rate	NOUN
fbem-24666	139	29	differentials	differential	NOUN
fbem-24666	139	30	,	,	PUNCT
fbem-24666	139	31	affecting	affect	VERB
fbem-24666	139	32	their	their	PRON
fbem-24666	139	33	fundamentals	fundamental	NOUN
fbem-24666	139	34	and	and	CCONJ
fbem-24666	139	35	stock	stock	NOUN
fbem-24666	139	36	value	value	NOUN
fbem-24666	139	37	.	.	PUNCT
fbem-24666	140	1	the	the	DET
fbem-24666	140	2	dollar	dollar	NOUN
fbem-24666	140	3	interest	interest	NOUN
fbem-24666	140	4	rate	rate	NOUN
fbem-24666	140	5	hikes	hike	NOUN
fbem-24666	140	6	,	,	PUNCT
fbem-24666	140	7	widening	widen	VERB
fbem-24666	140	8	the	the	DET
fbem-24666	140	9	interest	interest	NOUN
fbem-24666	140	10	rate	rate	NOUN
fbem-24666	140	11	differential	differential	NOUN
fbem-24666	140	12	with	with	ADP
fbem-24666	140	13	the	the	DET
fbem-24666	140	14	rmb	rmb	NOUN
fbem-24666	140	15	,	,	PUNCT
fbem-24666	140	16	lead	lead	VERB
fbem-24666	140	17	to	to	ADP
fbem-24666	140	18	the	the	DET
fbem-24666	140	19	short	short	ADJ
fbem-24666	140	20	-	-	PUNCT
fbem-24666	140	21	term	term	NOUN
fbem-24666	140	22	appreciation	appreciation	NOUN
fbem-24666	140	23	of	of	ADP
fbem-24666	140	24	the	the	DET
fbem-24666	140	25	dollar	dollar	NOUN
fbem-24666	140	26	relative	relative	ADJ
fbem-24666	140	27	to	to	ADP
fbem-24666	140	28	the	the	DET
fbem-24666	140	29	rmb	rmb	NOUN
fbem-24666	140	30	.	.	PUNCT
fbem-24666	141	1	this	this	PRON
fbem-24666	141	2	makes	make	VERB
fbem-24666	141	3	it	it	PRON
fbem-24666	141	4	more	more	ADV
fbem-24666	141	5	profitable	profitable	ADJ
fbem-24666	141	6	for	for	SCONJ
fbem-24666	141	7	international	international	ADJ
fbem-24666	141	8	capital	capital	NOUN
fbem-24666	141	9	to	to	PART
fbem-24666	141	10	hold	hold	VERB
fbem-24666	141	11	dollar	dollar	NOUN
fbem-24666	141	12	assets	asset	NOUN
fbem-24666	141	13	rather	rather	ADV
fbem-24666	141	14	than	than	ADP
fbem-24666	141	15	a	a	DET
fbem-24666	141	16	-	-	PUNCT
fbem-24666	141	17	shares	share	NOUN
fbem-24666	141	18	,	,	PUNCT
fbem-24666	141	19	as	as	SCONJ
fbem-24666	141	20	holding	hold	VERB
fbem-24666	141	21	dollar	dollar	NOUN
fbem-24666	141	22	assets	asset	NOUN
fbem-24666	141	23	can	can	AUX
fbem-24666	141	24	gain	gain	VERB
fbem-24666	141	25	from	from	ADP
fbem-24666	141	26	exchange	exchange	NOUN
fbem-24666	141	27	rate	rate	NOUN
fbem-24666	141	28	changes	change	NOUN
fbem-24666	141	29	,	,	PUNCT
fbem-24666	141	30	prompting	prompt	VERB
fbem-24666	141	31	international	international	ADJ
fbem-24666	141	32	capital	capital	NOUN
fbem-24666	141	33	to	to	PART
fbem-24666	141	34	flow	flow	VERB
fbem-24666	141	35	back	back	ADV
fbem-24666	141	36	and	and	CCONJ
fbem-24666	141	37	invest	invest	VERB
fbem-24666	141	38	in	in	ADP
fbem-24666	141	39	u.s	u.s	PROPN
fbem-24666	141	40	.	.	PROPN
fbem-24666	141	41	companies	company	NOUN
fbem-24666	141	42	.	.	PUNCT
fbem-24666	142	1	4	4	X
fbem-24666	142	2	.	.	X
fbem-24666	142	3	conclusion	conclusion	NOUN
fbem-24666	142	4	this	this	DET
fbem-24666	142	5	paper	paper	NOUN
fbem-24666	142	6	investigates	investigate	VERB
fbem-24666	142	7	the	the	DET
fbem-24666	142	8	impact	impact	NOUN
fbem-24666	142	9	of	of	ADP
fbem-24666	142	10	federal	federal	PROPN
fbem-24666	142	11	reserve	reserve	PROPN
fbem-24666	142	12	interest	interest	NOUN
fbem-24666	142	13	rate	rate	NOUN
fbem-24666	142	14	hikes	hike	NOUN
fbem-24666	142	15	on	on	ADP
fbem-24666	142	16	the	the	DET
fbem-24666	142	17	chinese	chinese	ADJ
fbem-24666	142	18	economy	economy	NOUN
fbem-24666	142	19	using	use	VERB
fbem-24666	142	20	the	the	DET
fbem-24666	142	21	tvpvar	tvpvar	NOUN
fbem-24666	142	22	model	model	NOUN
fbem-24666	142	23	.	.	PUNCT
fbem-24666	143	1	the	the	DET
fbem-24666	143	2	results	result	NOUN
fbem-24666	143	3	indicate	indicate	VERB
fbem-24666	143	4	that	that	SCONJ
fbem-24666	143	5	federal	federal	PROPN
fbem-24666	143	6	reserve	reserve	PROPN
fbem-24666	143	7	rate	rate	NOUN
fbem-24666	143	8	hikes	hike	NOUN
fbem-24666	143	9	have	have	VERB
fbem-24666	143	10	a	a	DET
fbem-24666	143	11	negative	negative	ADJ
fbem-24666	143	12	impact	impact	NOUN
fbem-24666	143	13	on	on	ADP
fbem-24666	143	14	china	china	PROPN
fbem-24666	143	15	's	's	PART
fbem-24666	143	16	output	output	NOUN
fbem-24666	143	17	,	,	PUNCT
fbem-24666	143	18	with	with	ADP
fbem-24666	143	19	the	the	DET
fbem-24666	143	20	effect	effect	NOUN
fbem-24666	143	21	largely	largely	ADV
fbem-24666	143	22	absorbed	absorb	VERB
fbem-24666	143	23	after	after	ADP
fbem-24666	143	24	a	a	DET
fbem-24666	143	25	lag	lag	NOUN
fbem-24666	143	26	of	of	ADP
fbem-24666	143	27	8	8	NUM
fbem-24666	143	28	to	to	PART
fbem-24666	143	29	12	12	NUM
fbem-24666	143	30	periods	period	NOUN
fbem-24666	143	31	.	.	PUNCT
fbem-24666	144	1	chinese	chinese	ADJ
fbem-24666	144	2	monetary	monetary	ADJ
fbem-24666	144	3	policy	policy	NOUN
fbem-24666	144	4	exhibits	exhibit	VERB
fbem-24666	144	5	short	short	ADJ
fbem-24666	144	6	-	-	PUNCT
fbem-24666	144	7	term	term	NOUN
fbem-24666	144	8	behavior	behavior	NOUN
fbem-24666	144	9	opposite	opposite	ADJ
fbem-24666	144	10	to	to	ADP
fbem-24666	144	11	that	that	PRON
fbem-24666	144	12	of	of	ADP
fbem-24666	144	13	the	the	DET
fbem-24666	144	14	u.s	u.s	PROPN
fbem-24666	144	15	.	.	PROPN
fbem-24666	144	16	,	,	PUNCT
fbem-24666	144	17	but	but	CCONJ
fbem-24666	144	18	the	the	DET
fbem-24666	144	19	overall	overall	ADJ
fbem-24666	144	20	impact	impact	NOUN
fbem-24666	144	21	is	be	AUX
fbem-24666	144	22	relatively	relatively	ADV
fbem-24666	144	23	small	small	ADJ
fbem-24666	144	24	.	.	PUNCT
fbem-24666	145	1	federal	federal	PROPN
fbem-24666	145	2	reserve	reserve	PROPN
fbem-24666	145	3	rate	rate	NOUN
fbem-24666	145	4	hikes	hike	NOUN
fbem-24666	145	5	suppress	suppress	VERB
fbem-24666	145	6	fixed	fix	VERB
fbem-24666	145	7	asset	asset	NOUN
fbem-24666	145	8	investment	investment	NOUN
fbem-24666	145	9	in	in	ADP
fbem-24666	145	10	china	china	PROPN
fbem-24666	145	11	and	and	CCONJ
fbem-24666	145	12	impact	impact	VERB
fbem-24666	145	13	actual	actual	ADJ
fbem-24666	145	14	gdp	gdp	NOUN
fbem-24666	145	15	,	,	PUNCT
fbem-24666	145	16	but	but	CCONJ
fbem-24666	145	17	the	the	DET
fbem-24666	145	18	effect	effect	NOUN
fbem-24666	145	19	diminishes	diminish	VERB
fbem-24666	145	20	over	over	ADP
fbem-24666	145	21	time	time	NOUN
fbem-24666	145	22	.	.	PUNCT
fbem-24666	146	1	federal	federal	PROPN
fbem-24666	146	2	reserve	reserve	PROPN
fbem-24666	146	3	rate	rate	NOUN
fbem-24666	146	4	hikes	hike	NOUN
fbem-24666	146	5	negatively	negatively	ADV
fbem-24666	146	6	affect	affect	VERB
fbem-24666	146	7	the	the	DET
fbem-24666	146	8	rmb	rmb	PROPN
fbem-24666	146	9	exchange	exchange	NOUN
fbem-24666	146	10	rate	rate	NOUN
fbem-24666	146	11	and	and	CCONJ
fbem-24666	146	12	chinese	chinese	ADJ
fbem-24666	146	13	exports	export	NOUN
fbem-24666	146	14	,	,	PUNCT
fbem-24666	146	15	with	with	ADP
fbem-24666	146	16	the	the	DET
fbem-24666	146	17	usd	usd	PROPN
fbem-24666	146	18	/	/	SYM
fbem-24666	146	19	rmb	rmb	NOUN
fbem-24666	146	20	exchange	exchange	NOUN
fbem-24666	146	21	rate	rate	NOUN
fbem-24666	146	22	increasing	increase	VERB
fbem-24666	146	23	,	,	PUNCT
fbem-24666	146	24	thus	thus	ADV
fbem-24666	146	25	inhibiting	inhibit	VERB
fbem-24666	146	26	exports	export	NOUN
fbem-24666	146	27	.	.	PUNCT
fbem-24666	147	1	federal	federal	PROPN
fbem-24666	147	2	reserve	reserve	PROPN
fbem-24666	147	3	rate	rate	PROPN
fbem-24666	147	4	hikes	hike	NOUN
fbem-24666	147	5	widen	widen	VERB
fbem-24666	147	6	the	the	DET
fbem-24666	147	7	interest	interest	NOUN
fbem-24666	147	8	rate	rate	NOUN
fbem-24666	147	9	differential	differential	NOUN
fbem-24666	147	10	between	between	ADP
fbem-24666	147	11	the	the	DET
fbem-24666	147	12	usd	usd	NOUN
fbem-24666	147	13	and	and	CCONJ
fbem-24666	147	14	rmb	rmb	NOUN
fbem-24666	147	15	,	,	PUNCT
fbem-24666	147	16	impacting	impact	VERB
fbem-24666	147	17	the	the	DET
fbem-24666	147	18	chinese	chinese	ADJ
fbem-24666	147	19	stock	stock	NOUN
fbem-24666	147	20	market	market	NOUN
fbem-24666	147	21	and	and	CCONJ
fbem-24666	147	22	making	make	VERB
fbem-24666	147	23	international	international	ADJ
fbem-24666	147	24	capital	capital	NOUN
fbem-24666	147	25	more	more	ADV
fbem-24666	147	26	inclined	inclined	ADJ
fbem-24666	147	27	to	to	PART
fbem-24666	147	28	invest	invest	VERB
fbem-24666	147	29	in	in	ADP
fbem-24666	147	30	the	the	DET
fbem-24666	147	31	u.s	u.s	PROPN
fbem-24666	147	32	.	.	PROPN
fbem-24666	147	33	federal	federal	PROPN
fbem-24666	147	34	reserve	reserve	PROPN
fbem-24666	147	35	interest	interest	PROPN
fbem-24666	147	36	rate	rate	NOUN
fbem-24666	147	37	hikes	hike	NOUN
fbem-24666	147	38	introduce	introduce	VERB
fbem-24666	147	39	uncertainty	uncertainty	NOUN
fbem-24666	147	40	to	to	ADP
fbem-24666	147	41	the	the	DET
fbem-24666	147	42	chinese	chinese	ADJ
fbem-24666	147	43	economy	economy	NOUN
fbem-24666	147	44	,	,	PUNCT
fbem-24666	147	45	necessitating	necessitate	VERB
fbem-24666	147	46	responsive	responsive	ADJ
fbem-24666	147	47	measures	measure	NOUN
fbem-24666	147	48	.	.	PUNCT
fbem-24666	148	1	it	it	PRON
fbem-24666	148	2	is	be	AUX
fbem-24666	148	3	recommended	recommend	VERB
fbem-24666	148	4	to	to	PART
fbem-24666	148	5	continue	continue	VERB
fbem-24666	148	6	implementing	implement	VERB
fbem-24666	148	7	a	a	DET
fbem-24666	148	8	prudent	prudent	ADJ
fbem-24666	148	9	monetary	monetary	ADJ
fbem-24666	148	10	policy	policy	NOUN
fbem-24666	148	11	to	to	PART
fbem-24666	148	12	maintain	maintain	VERB
fbem-24666	148	13	rmb	rmb	NOUN
fbem-24666	148	14	exchange	exchange	NOUN
fbem-24666	148	15	rate	rate	NOUN
fbem-24666	148	16	stability	stability	NOUN
fbem-24666	148	17	;	;	PUNCT
fbem-24666	148	18	promote	promote	VERB
fbem-24666	148	19	rmb	rmb	NOUN
fbem-24666	148	20	internationalization	internationalization	NOUN
fbem-24666	148	21	and	and	CCONJ
fbem-24666	148	22	exchange	exchange	NOUN
fbem-24666	148	23	rate	rate	NOUN
fbem-24666	148	24	marketization	marketization	NOUN
fbem-24666	148	25	reforms	reform	NOUN
fbem-24666	148	26	to	to	PART
fbem-24666	148	27	strengthen	strengthen	VERB
fbem-24666	148	28	foreign	foreign	ADJ
fbem-24666	148	29	exchange	exchange	NOUN
fbem-24666	148	30	reserve	reserve	NOUN
fbem-24666	148	31	supervision	supervision	NOUN
fbem-24666	148	32	;	;	PUNCT
fbem-24666	148	33	increase	increase	VERB
fbem-24666	148	34	market	market	NOUN
fbem-24666	148	35	liquidity	liquidity	NOUN
fbem-24666	148	36	by	by	ADP
fbem-24666	148	37	lowering	lower	VERB
fbem-24666	148	38	interest	interest	NOUN
fbem-24666	148	39	rates	rate	NOUN
fbem-24666	148	40	and	and	CCONJ
fbem-24666	148	41	the	the	DET
fbem-24666	148	42	reserve	reserve	PROPN
fbem-24666	148	43	requirement	requirement	NOUN
fbem-24666	148	44	ratio	ratio	NOUN
fbem-24666	148	45	;	;	PUNCT
fbem-24666	148	46	improve	improve	VERB
fbem-24666	148	47	stock	stock	NOUN
fbem-24666	148	48	market	market	NOUN
fbem-24666	148	49	and	and	CCONJ
fbem-24666	148	50	institutional	institutional	ADJ
fbem-24666	148	51	development	development	NOUN
fbem-24666	148	52	to	to	PART
fbem-24666	148	53	enhance	enhance	VERB
fbem-24666	148	54	market	market	NOUN
fbem-24666	148	55	maturity	maturity	NOUN
fbem-24666	148	56	and	and	CCONJ
fbem-24666	148	57	stability	stability	NOUN
fbem-24666	148	58	,	,	PUNCT
fbem-24666	148	59	and	and	CCONJ
fbem-24666	148	60	strengthen	strengthen	VERB
fbem-24666	148	61	risk	risk	NOUN
fbem-24666	148	62	management	management	NOUN
fbem-24666	148	63	and	and	CCONJ
fbem-24666	148	64	education	education	NOUN
fbem-24666	148	65	for	for	ADP
fbem-24666	148	66	investors	investor	NOUN
fbem-24666	148	67	.	.	PUNCT
fbem-24666	149	1	these	these	DET
fbem-24666	149	2	measures	measure	NOUN
fbem-24666	149	3	will	will	AUX
fbem-24666	149	4	help	help	VERB
fbem-24666	149	5	china	china	PROPN
fbem-24666	149	6	address	address	VERB
fbem-24666	149	7	the	the	DET
fbem-24666	149	8	challenges	challenge	NOUN
fbem-24666	149	9	posed	pose	VERB
fbem-24666	149	10	by	by	ADP
fbem-24666	149	11	interest	interest	NOUN
fbem-24666	149	12	rate	rate	NOUN
fbem-24666	149	13	hikes	hike	NOUN
fbem-24666	149	14	,	,	PUNCT
fbem-24666	149	15	maintaining	maintain	VERB
fbem-24666	149	16	economic	economic	ADJ
fbem-24666	149	17	stability	stability	NOUN
fbem-24666	149	18	and	and	CCONJ
fbem-24666	149	19	sustainable	sustainable	ADJ
fbem-24666	149	20	development	development	NOUN
fbem-24666	149	21	.	.	PUNCT
fbem-24666	150	1	acknowledgments	acknowledgment	NOUN
fbem-24666	150	2	we	we	PRON
fbem-24666	150	3	extend	extend	VERB
fbem-24666	150	4	our	our	PRON
fbem-24666	150	5	gratitude	gratitude	NOUN
fbem-24666	150	6	to	to	ADP
fbem-24666	150	7	weiran	weiran	PROPN
fbem-24666	150	8	zhang	zhang	PROPN
fbem-24666	150	9	,	,	PUNCT
fbem-24666	150	10	sichen	sichen	PROPN
fbem-24666	150	11	yu	yu	PROPN
fbem-24666	150	12	,	,	PUNCT
fbem-24666	150	13	and	and	CCONJ
fbem-24666	150	14	yihan	yihan	PROPN
fbem-24666	150	15	li	li	PROPN
fbem-24666	150	16	,	,	PUNCT
fbem-24666	150	17	who	who	PRON
fbem-24666	150	18	have	have	AUX
fbem-24666	150	19	contributed	contribute	VERB
fbem-24666	150	20	equally	equally	ADV
fbem-24666	150	21	to	to	ADP
fbem-24666	150	22	this	this	DET
fbem-24666	150	23	work	work	NOUN
fbem-24666	150	24	.	.	PUNCT
fbem-24666	151	1	references	reference	NOUN
fbem-24666	151	2	[	[	X
fbem-24666	151	3	1	1	NUM
fbem-24666	151	4	]	]	X
fbem-24666	151	5	b.j	b.j	PROPN
fbem-24666	151	6	.	.	PROPN
fbem-24666	151	7	lobo	lobo	PROPN
fbem-24666	151	8	:	:	PUNCT
fbem-24666	151	9	asymmetric	asymmetric	ADJ
fbem-24666	151	10	effects	effect	NOUN
fbem-24666	151	11	of	of	ADP
fbem-24666	151	12	interest	interest	NOUN
fbem-24666	151	13	rate	rate	NOUN
fbem-24666	151	14	changes	change	NOUN
fbem-24666	151	15	on	on	ADP
fbem-24666	151	16	stock	stock	NOUN
fbem-24666	151	17	prices	price	NOUN
fbem-24666	151	18	,	,	PUNCT
fbem-24666	151	19	financial	financial	ADJ
fbem-24666	151	20	review	review	NOUN
fbem-24666	151	21	,	,	PUNCT
fbem-24666	151	22	vol	vol	NOUN
fbem-24666	151	23	.	.	PROPN
fbem-24666	151	24	35	35	NUM
fbem-24666	151	25	(	(	PUNCT
fbem-24666	151	26	2000	2000	NUM
fbem-24666	151	27	)	)	PUNCT
fbem-24666	151	28	no.3	no.3	VERB
fbem-24666	151	29	,	,	PUNCT
fbem-24666	151	30	p.125144	p.125144	NOUN
fbem-24666	151	31	.	.	PUNCT
fbem-24666	152	1	[	[	X
fbem-24666	152	2	2	2	NUM
fbem-24666	152	3	]	]	PUNCT
fbem-24666	152	4	m.	m.	NOUN
fbem-24666	152	5	azizirad	azizirad	PROPN
fbem-24666	152	6	:	:	PUNCT
fbem-24666	152	7	fisher	fisher	PROPN
fbem-24666	152	8	vs	vs	ADP
fbem-24666	152	9	keynes	keynes	PROPN
fbem-24666	152	10	:	:	PUNCT
fbem-24666	152	11	does	do	AUX
fbem-24666	152	12	an	an	DET
fbem-24666	152	13	interest	interest	NOUN
fbem-24666	152	14	rate	rate	NOUN
fbem-24666	152	15	hike	hike	NOUN
fbem-24666	152	16	cause	cause	VERB
fbem-24666	152	17	inflation	inflation	NOUN
fbem-24666	152	18	to	to	PART
fbem-24666	152	19	increase	increase	VERB
fbem-24666	152	20	or	or	CCONJ
fbem-24666	152	21	decrease	decrease	VERB
fbem-24666	152	22	?	?	PUNCT
fbem-24666	153	1	(	(	PUNCT
fbem-24666	153	2	ms	ms	PROPN
fbem-24666	153	3	.	.	PROPN
fbem-24666	153	4	,	,	PUNCT
fbem-24666	153	5	simon	simon	PROPN
fbem-24666	153	6	fraser	fraser	PROPN
fbem-24666	153	7	university	university	PROPN
fbem-24666	153	8	,	,	PUNCT
fbem-24666	153	9	canada	canada	PROPN
fbem-24666	153	10	2022	2022	NUM
fbem-24666	153	11	)	)	PUNCT
fbem-24666	153	12	.	.	PUNCT
fbem-24666	154	1	[	[	X
fbem-24666	154	2	3	3	X
fbem-24666	154	3	]	]	X
fbem-24666	154	4	e.	e.	PROPN
fbem-24666	154	5	ogawa	ogawa	PROPN
fbem-24666	154	6	,	,	PUNCT
fbem-24666	154	7	j.	j.	PROPN
fbem-24666	154	8	shimizu	shimizu	PROPN
fbem-24666	154	9	,	,	PUNCT
fbem-24666	154	10	&	&	CCONJ
fbem-24666	154	11	p.	p.	PROPN
fbem-24666	154	12	luo	luo	PROPN
fbem-24666	154	13	:	:	PUNCT
fbem-24666	154	14	effects	effect	NOUN
fbem-24666	154	15	of	of	ADP
fbem-24666	154	16	us	us	PROPN
fbem-24666	154	17	interest	interest	NOUN
fbem-24666	154	18	rate	rate	NOUN
fbem-24666	154	19	hike	hike	PROPN
fbem-24666	154	20	and	and	CCONJ
fbem-24666	154	21	global	global	ADJ
fbem-24666	154	22	risk	risk	NOUN
fbem-24666	154	23	on	on	ADP
fbem-24666	154	24	daily	daily	ADJ
fbem-24666	154	25	capital	capital	NOUN
fbem-24666	154	26	flows	flow	NOUN
fbem-24666	154	27	in	in	ADP
fbem-24666	154	28	emerging	emerge	VERB
fbem-24666	154	29	market	market	NOUN
fbem-24666	154	30	countries	country	NOUN
fbem-24666	154	31	,	,	PUNCT
fbem-24666	154	32	hitotsubashi	hitotsubashi	PROPN
fbem-24666	154	33	journal	journal	PROPN
fbem-24666	154	34	of	of	ADP
fbem-24666	154	35	commerce	commerce	PROPN
fbem-24666	154	36	and	and	CCONJ
fbem-24666	154	37	management	management	NOUN
fbem-24666	154	38	,	,	PUNCT
fbem-24666	154	39	vol	vol	NOUN
fbem-24666	154	40	.	.	PROPN
fbem-24666	154	41	57	57	NUM
fbem-24666	154	42	(	(	PUNCT
fbem-24666	154	43	2023	2023	NUM
fbem-24666	154	44	)	)	PUNCT
fbem-24666	154	45	no.1	no.1	NOUN
fbem-24666	154	46	,	,	PUNCT
fbem-24666	154	47	p.1	p.1	NOUN
fbem-24666	154	48	-	-	PUNCT
fbem-24666	154	49	31	31	NUM
fbem-24666	154	50	.	.	PUNCT
fbem-24666	155	1	[	[	X
fbem-24666	155	2	4	4	X
fbem-24666	155	3	]	]	X
fbem-24666	155	4	y.f	y.f	PROPN
fbem-24666	155	5	.	.	PUNCT
fbem-24666	155	6	shi	shi	PROPN
fbem-24666	155	7	,	,	PUNCT
fbem-24666	155	8	c.	c.	PROPN
fbem-24666	155	9	li	li	PROPN
fbem-24666	155	10	:	:	PUNCT
fbem-24666	155	11	the	the	DET
fbem-24666	155	12	impact	impact	NOUN
fbem-24666	155	13	of	of	ADP
fbem-24666	155	14	federal	federal	PROPN
fbem-24666	155	15	reserve	reserve	PROPN
fbem-24666	155	16	interest	interest	NOUN
fbem-24666	155	17	rate	rate	NOUN
fbem-24666	155	18	hikes	hike	NOUN
fbem-24666	155	19	on	on	ADP
fbem-24666	155	20	china	china	PROPN
fbem-24666	155	21	's	's	PART
fbem-24666	155	22	price	price	NOUN
fbem-24666	155	23	levels	level	NOUN
fbem-24666	155	24	,	,	PUNCT
fbem-24666	155	25	china	china	PROPN
fbem-24666	155	26	prices	price	NOUN
fbem-24666	155	27	,	,	PUNCT
fbem-24666	155	28	vol	vol	NOUN
fbem-24666	155	29	.	.	PROPN
fbem-24666	155	30	09	09	NUM
fbem-24666	155	31	(	(	PUNCT
fbem-24666	155	32	2023	2023	NUM
fbem-24666	155	33	)	)	PUNCT
fbem-24666	155	34	,	,	PUNCT
fbem-24666	155	35	p.7	p.7	NOUN
fbem-24666	155	36	-	-	PUNCT
fbem-24666	155	37	11	11	NUM
fbem-24666	155	38	.	.	PUNCT
fbem-24666	156	1	[	[	X
fbem-24666	156	2	5	5	X
fbem-24666	156	3	]	]	PUNCT
fbem-24666	156	4	l.	l.	PROPN
fbem-24666	156	5	ma	ma	PROPN
fbem-24666	156	6	,	,	PUNCT
fbem-24666	156	7	c.l	c.l	PROPN
fbem-24666	156	8	.	.	PROPN
fbem-24666	156	9	peng	peng	PROPN
fbem-24666	156	10	:	:	PUNCT
fbem-24666	156	11	the	the	DET
fbem-24666	156	12	impact	impact	NOUN
fbem-24666	156	13	of	of	ADP
fbem-24666	156	14	federal	federal	PROPN
fbem-24666	156	15	reserve	reserve	PROPN
fbem-24666	156	16	interest	interest	NOUN
fbem-24666	156	17	rate	rate	NOUN
fbem-24666	156	18	hikes	hike	NOUN
fbem-24666	156	19	on	on	ADP
fbem-24666	156	20	china	china	PROPN
fbem-24666	156	21	's	's	PART
fbem-24666	156	22	economy	economy	NOUN
fbem-24666	156	23	,	,	PUNCT
fbem-24666	156	24	shanghai	shanghai	PROPN
fbem-24666	156	25	economic	economic	ADJ
fbem-24666	156	26	research	research	PROPN
fbem-24666	156	27	,	,	PUNCT
fbem-24666	156	28	vol	vol	NOUN
fbem-24666	156	29	.	.	PROPN
fbem-24666	156	30	07	07	NUM
fbem-24666	156	31	(	(	PUNCT
fbem-24666	156	32	2019	2019	NUM
fbem-24666	156	33	)	)	PUNCT
fbem-24666	156	34	,	,	PUNCT
fbem-24666	156	35	p.115	p.115	PROPN
fbem-24666	156	36	-	-	SYM
fbem-24666	156	37	128	128	NUM
fbem-24666	156	38	.	.	PUNCT
fbem-24666	157	1	[	[	X
fbem-24666	157	2	6	6	NUM
fbem-24666	157	3	]	]	X
fbem-24666	157	4	g.m	g.m	PROPN
fbem-24666	157	5	.	.	PROPN
fbem-24666	157	6	liao	liao	PROPN
fbem-24666	157	7	,	,	PUNCT
fbem-24666	157	8	y.w	y.w	PROPN
fbem-24666	157	9	.	.	PROPN
fbem-24666	157	10	hu	hu	PROPN
fbem-24666	157	11	:	:	PUNCT
fbem-24666	157	12	the	the	DET
fbem-24666	157	13	impact	impact	NOUN
fbem-24666	157	14	of	of	ADP
fbem-24666	157	15	federal	federal	PROPN
fbem-24666	157	16	reserve	reserve	PROPN
fbem-24666	157	17	interest	interest	NOUN
fbem-24666	157	18	rate	rate	NOUN
fbem-24666	157	19	hikes	hike	NOUN
fbem-24666	157	20	on	on	ADP
fbem-24666	157	21	china	china	PROPN
fbem-24666	157	22	's	's	PART
fbem-24666	157	23	output	output	NOUN
fbem-24666	157	24	—	—	PUNCT
fbem-24666	157	25	taking	take	VERB
fbem-24666	157	26	the	the	DET
fbem-24666	157	27	computer	computer	NOUN
fbem-24666	157	28	communication	communication	NOUN
fbem-24666	157	29	electronics	electronic	NOUN
fbem-24666	157	30	industry	industry	NOUN
fbem-24666	157	31	as	as	ADP
fbem-24666	157	32	an	an	DET
fbem-24666	157	33	example	example	NOUN
fbem-24666	157	34	,	,	PUNCT
fbem-24666	157	35	journal	journal	NOUN
fbem-24666	157	36	of	of	ADP
fbem-24666	157	37	mudanjiang	mudanjiang	PROPN
fbem-24666	157	38	university	university	PROPN
fbem-24666	157	39	,	,	PUNCT
fbem-24666	157	40	vol	vol	NOUN
fbem-24666	157	41	.	.	PROPN
fbem-24666	157	42	28	28	NUM
fbem-24666	157	43	(	(	PUNCT
fbem-24666	157	44	2019	2019	NUM
fbem-24666	157	45	)	)	PUNCT
fbem-24666	157	46	,	,	PUNCT
fbem-24666	157	47	p.23	p.23	PROPN
fbem-24666	157	48	-	-	X
fbem-24666	157	49	27	27	NUM
fbem-24666	157	50	.	.	PUNCT
fbem-24666	158	1	[	[	X
fbem-24666	158	2	7	7	X
fbem-24666	158	3	]	]	X
fbem-24666	158	4	j.	j.	PROPN
fbem-24666	158	5	tang	tang	PROPN
fbem-24666	158	6	:	:	PUNCT
fbem-24666	158	7	the	the	DET
fbem-24666	158	8	impact	impact	NOUN
fbem-24666	158	9	of	of	ADP
fbem-24666	158	10	the	the	DET
fbem-24666	158	11	federal	federal	PROPN
fbem-24666	158	12	reserve	reserve	PROPN
fbem-24666	158	13	's	's	PART
fbem-24666	158	14	interest	interest	NOUN
fbem-24666	158	15	rate	rate	NOUN
fbem-24666	158	16	hike	hike	PROPN
fbem-24666	158	17	on	on	ADP
fbem-24666	158	18	china	china	PROPN
fbem-24666	158	19	's	's	PART
fbem-24666	158	20	economic	economic	ADJ
fbem-24666	158	21	development	development	NOUN
fbem-24666	158	22	,	,	PUNCT
fbem-24666	158	23	business	business	NOUN
fbem-24666	158	24	economics	economic	NOUN
fbem-24666	158	25	,	,	PUNCT
fbem-24666	158	26	vol	vol	NOUN
fbem-24666	158	27	.	.	PROPN
fbem-24666	158	28	10	10	NUM
fbem-24666	158	29	(	(	PUNCT
fbem-24666	158	30	2019	2019	NUM
fbem-24666	158	31	)	)	PUNCT
fbem-24666	158	32	,	,	PUNCT
fbem-24666	158	33	p.149	p.149	NOUN
fbem-24666	158	34	-	-	ADJ
fbem-24666	158	35	151	151	NUM
fbem-24666	158	36	.	.	PUNCT
fbem-24666	159	1	[	[	X
fbem-24666	159	2	8	8	NUM
fbem-24666	159	3	]	]	X
fbem-24666	159	4	r.	r.	PROPN
fbem-24666	159	5	chen	chen	PROPN
fbem-24666	159	6	,	,	PUNCT
fbem-24666	159	7	j.l	j.l	PROPN
fbem-24666	159	8	.	.	PROPN
fbem-24666	159	9	fu	fu	PROPN
fbem-24666	159	10	,	,	PUNCT
fbem-24666	159	11	e.	e.	PROPN
fbem-24666	159	12	wang	wang	PROPN
fbem-24666	159	13	:	:	PUNCT
fbem-24666	159	14	the	the	DET
fbem-24666	159	15	impact	impact	NOUN
fbem-24666	159	16	of	of	ADP
fbem-24666	159	17	federal	federal	PROPN
fbem-24666	159	18	reserve	reserve	PROPN
fbem-24666	159	19	interest	interest	NOUN
fbem-24666	159	20	rate	rate	NOUN
fbem-24666	159	21	hikes	hike	NOUN
fbem-24666	159	22	on	on	ADP
fbem-24666	159	23	china	china	PROPN
fbem-24666	159	24	's	's	PART
fbem-24666	159	25	financial	financial	ADJ
fbem-24666	159	26	market	market	NOUN
fbem-24666	159	27	:	:	PUNCT
fbem-24666	159	28	an	an	DET
fbem-24666	159	29	analysis	analysis	NOUN
fbem-24666	159	30	based	base	VERB
fbem-24666	159	31	on	on	ADP
fbem-24666	159	32	the	the	DET
fbem-24666	159	33	var	var	NOUN
fbem-24666	159	34	model	model	NOUN
fbem-24666	159	35	,	,	PUNCT
fbem-24666	159	36	national	national	ADJ
fbem-24666	159	37	circulation	circulation	NOUN
fbem-24666	159	38	economy	economy	NOUN
fbem-24666	159	39	,	,	PUNCT
fbem-24666	159	40	vol	vol	NOUN
fbem-24666	159	41	.	.	PROPN
fbem-24666	159	42	15	15	NUM
fbem-24666	159	43	(	(	PUNCT
fbem-24666	159	44	2019	2019	NUM
fbem-24666	159	45	)	)	PUNCT
fbem-24666	159	46	,	,	PUNCT
fbem-24666	159	47	p.125	p.125	NUM
fbem-24666	159	48	-	-	SYM
fbem-24666	159	49	126	126	NUM
fbem-24666	159	50	.	.	PUNCT
fbem-24666	160	1	[	[	X
fbem-24666	160	2	9	9	NUM
fbem-24666	160	3	]	]	X
fbem-24666	160	4	w.y	w.y	PROPN
fbem-24666	160	5	.	.	PUNCT
fbem-24666	161	1	lv	lv	PROPN
fbem-24666	161	2	:	:	PUNCT
fbem-24666	161	3	the	the	DET
fbem-24666	161	4	negative	negative	ADJ
fbem-24666	161	5	impact	impact	NOUN
fbem-24666	161	6	of	of	ADP
fbem-24666	161	7	federal	federal	ADJ
fbem-24666	161	8	reserve	reserve	PROPN
fbem-24666	161	9	interest	interest	NOUN
fbem-24666	161	10	rate	rate	NOUN
fbem-24666	161	11	hikes	hike	NOUN
fbem-24666	161	12	on	on	ADP
fbem-24666	161	13	china	china	PROPN
fbem-24666	161	14	's	's	PART
fbem-24666	161	15	economy	economy	NOUN
fbem-24666	161	16	and	and	CCONJ
fbem-24666	161	17	finance	finance	NOUN
fbem-24666	161	18	and	and	CCONJ
fbem-24666	161	19	its	its	PRON
fbem-24666	161	20	countermeasures	countermeasure	NOUN
fbem-24666	161	21	,	,	PUNCT
fbem-24666	161	22	business	business	NOUN
fbem-24666	161	23	&	&	CCONJ
fbem-24666	161	24	trade	trade	PROPN
fbem-24666	161	25	practice	practice	NOUN
fbem-24666	161	26	,	,	PUNCT
fbem-24666	161	27	vol	vol	NOUN
fbem-24666	161	28	.	.	NOUN
fbem-24666	161	29	2018	2018	NUM
fbem-24666	161	30	(	(	PUNCT
fbem-24666	161	31	23	23	NUM
fbem-24666	161	32	)	)	PUNCT
fbem-24666	161	33	,	,	PUNCT
fbem-24666	161	34	p.124	p.124	NUM
fbem-24666	161	35	-	-	SYM
fbem-24666	161	36	125	125	NUM
fbem-24666	161	37	.	.	PUNCT
fbem-24666	162	1	[	[	X
fbem-24666	162	2	10	10	NUM
fbem-24666	162	3	]	]	X
fbem-24666	162	4	y.x	y.x	PROPN
fbem-24666	162	5	.	.	PROPN
fbem-24666	162	6	yang	yang	PROPN
fbem-24666	162	7	:	:	PUNCT
fbem-24666	162	8	a	a	DET
fbem-24666	162	9	study	study	NOUN
fbem-24666	162	10	on	on	ADP
fbem-24666	162	11	the	the	DET
fbem-24666	162	12	spillover	spillover	NOUN
fbem-24666	162	13	effects	effect	NOUN
fbem-24666	162	14	of	of	ADP
fbem-24666	162	15	the	the	DET
fbem-24666	162	16	federal	federal	PROPN
fbem-24666	162	17	reserve	reserve	PROPN
fbem-24666	162	18	's	's	PART
fbem-24666	162	19	tight	tight	ADJ
fbem-24666	162	20	monetary	monetary	ADJ
fbem-24666	162	21	policy	policy	NOUN
fbem-24666	162	22	on	on	ADP
fbem-24666	162	23	china	china	PROPN
fbem-24666	162	24	's	's	PART
fbem-24666	162	25	economy	economy	NOUN
fbem-24666	162	26	(	(	PUNCT
fbem-24666	162	27	ms	ms	PROPN
fbem-24666	162	28	.	.	PROPN
fbem-24666	162	29	,	,	PUNCT
fbem-24666	162	30	jilin	jilin	PROPN
fbem-24666	162	31	university	university	PROPN
fbem-24666	162	32	,	,	PUNCT
fbem-24666	162	33	china	china	PROPN
fbem-24666	162	34	2020	2020	NUM
fbem-24666	162	35	)	)	PUNCT
fbem-24666	162	36	.	.	PUNCT
fbem-24666	163	1	[	[	X
fbem-24666	163	2	11	11	NUM
fbem-24666	163	3	]	]	PUNCT
fbem-24666	163	4	j.	j.	PROPN
fbem-24666	163	5	nakajima	nakajima	PROPN
fbem-24666	163	6	:	:	PUNCT
fbem-24666	163	7	time	time	NOUN
fbem-24666	163	8	-	-	PUNCT
fbem-24666	163	9	varying	vary	VERB
fbem-24666	163	10	parameter	parameter	NOUN
fbem-24666	163	11	var	var	NOUN
fbem-24666	163	12	model	model	NOUN
fbem-24666	163	13	with	with	ADP
fbem-24666	163	14	stochastic	stochastic	ADJ
fbem-24666	163	15	volatility	volatility	NOUN
fbem-24666	163	16	:	:	PUNCT
fbem-24666	163	17	an	an	DET
fbem-24666	163	18	overview	overview	NOUN
fbem-24666	163	19	of	of	ADP
fbem-24666	163	20	methodology	methodology	NOUN
fbem-24666	163	21	and	and	CCONJ
fbem-24666	163	22	empirical	empirical	ADJ
fbem-24666	163	23	applications	application	NOUN
fbem-24666	163	24	,	,	PUNCT
fbem-24666	163	25	monetary	monetary	ADJ
fbem-24666	163	26	and	and	CCONJ
fbem-24666	163	27	economic	economic	ADJ
fbem-24666	163	28	studies	study	NOUN
fbem-24666	163	29	,	,	PUNCT
fbem-24666	163	30	vol	vol	NOUN
fbem-24666	163	31	.	.	PROPN
fbem-24666	163	32	29	29	NUM
fbem-24666	163	33	(	(	PUNCT
fbem-24666	163	34	2011	2011	NUM
fbem-24666	163	35	)	)	PUNCT
fbem-24666	163	36	,	,	PUNCT
fbem-24666	163	37	p.107	p.107	NOUN
fbem-24666	163	38	-	-	SYM
fbem-24666	163	39	142	142	NUM
fbem-24666	163	40	.	.	PUNCT