The Resource U.S. monetary policy normalization and global interenst rates, prepared by Carlos Caceres, Yan Carrière-Swallow, Ishak Demir, and Bertrand Gruss
U.S. monetary policy normalization and global interenst rates, prepared by Carlos Caceres, Yan Carrière-Swallow, Ishak Demir, and Bertrand Gruss
Resource Information
The item U.S. monetary policy normalization and global interenst rates, prepared by Carlos Caceres, Yan Carrière-Swallow, Ishak Demir, and Bertrand Gruss represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University of San Diego Libraries.This item is available to borrow from 1 library branch.
Resource Information
The item U.S. monetary policy normalization and global interenst rates, prepared by Carlos Caceres, Yan Carrière-Swallow, Ishak Demir, and Bertrand Gruss represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University of San Diego Libraries.
This item is available to borrow from 1 library branch.
- Summary
- As the Federal Reserve continues to normalize its monetary policy, this paper studies the impact of U.S. interest rates on rates in other countries. We find a modest but nontrivial pass-through from U.S. to domestic short-term interest rates on average. We show that, to a large extent, this comovement reflects synchronized business cycles. However, there is important heterogeneity across countries, and we find evidence of limited monetary autonomy in some cases. The co-movement of longer term interest rates is larger and more pervasive. We distinguish between U.S. interest rate movements that surprise markets versus those that are anticipated, and find that most countries receive greater spillovers from the former. We also distinguish between movements in the U.S. term premium and the expected path of risk-free rates, concluding that countries respond differently to these shocks. Finally, we explore the determinants of monetary autonomy and find strong evidence for the role of exchange rate flexibility, capital account openness, but also for other factors, such as dollarization of financial system liabilities, and the credibility of fiscal and monetary policy
- Language
- eng
- Extent
- 1 online resource (46 pages)
- Note
-
- "September 2016."
- At head of title: International Monetary Fund, Western Hemisphere Department
- Contents
-
- Cover; Contents; Abstract; I INTRODUCTION; II DATA; III PASS-THROUGH FROM U.S TO DOMESTIC INTEREST RATES; IV WHAT CAN BE EXPECTED FROM U.S MONETARY POLICY NORMALIZATION?; V THE FED'S NORMALIZATION AND MONETARY AUTONOMY ELSEWHERE; VI EXPLORING THE DETERMINANTS OF MONETARY AUTONOMY; VII CONCLUSION AND POLICY IMPLICATIONS
- Isbn
- 9781475543247
- Label
- U.S. monetary policy normalization and global interenst rates
- Title
- U.S. monetary policy normalization and global interenst rates
- Statement of responsibility
- prepared by Carlos Caceres, Yan Carrière-Swallow, Ishak Demir, and Bertrand Gruss
- Title variation
- United States monetary policy normalization and global interenst rates
- Language
- eng
- Summary
- As the Federal Reserve continues to normalize its monetary policy, this paper studies the impact of U.S. interest rates on rates in other countries. We find a modest but nontrivial pass-through from U.S. to domestic short-term interest rates on average. We show that, to a large extent, this comovement reflects synchronized business cycles. However, there is important heterogeneity across countries, and we find evidence of limited monetary autonomy in some cases. The co-movement of longer term interest rates is larger and more pervasive. We distinguish between U.S. interest rate movements that surprise markets versus those that are anticipated, and find that most countries receive greater spillovers from the former. We also distinguish between movements in the U.S. term premium and the expected path of risk-free rates, concluding that countries respond differently to these shocks. Finally, we explore the determinants of monetary autonomy and find strong evidence for the role of exchange rate flexibility, capital account openness, but also for other factors, such as dollarization of financial system liabilities, and the credibility of fiscal and monetary policy
- Cataloging source
- YDX
- http://bibfra.me/vocab/lite/collectionName
- IMF eLibrary
- http://library.link/vocab/creatorName
- Caceres, Carlos
- Government publication
- international or intergovernmental publication
- Illustrations
- illustrations
- Index
- no index present
- LC call number
- HG3881.5.I58
- LC item number
- W67 No. 16/195 ONLINE
- Literary form
- non fiction
- Nature of contents
-
- dictionaries
- bibliography
- http://library.link/vocab/relatedWorkOrContributorName
-
- Carrière-Swallow, Yan
- Demir, Ishak
- Gruss, Bertrand
- International Monetary Fund
- International Monetary Fund
- Series statement
- IMF Working Paper,
- Series volume
- WP/16/195
- http://library.link/vocab/subjectName
-
- Dollarization
- Foreign exchange rates
- Interest rates
- Business cycles
- Monetary policy
- Business cycles
- Dollarization
- Foreign exchange rates
- Interest rates
- Monetary policy
- United States
- Label
- U.S. monetary policy normalization and global interenst rates, prepared by Carlos Caceres, Yan Carrière-Swallow, Ishak Demir, and Bertrand Gruss
- Note
-
- "September 2016."
- At head of title: International Monetary Fund, Western Hemisphere Department
- Bibliography note
- Includes bibliographical references (pages 34-36)
- Carrier category
- online resource
- Carrier category code
-
- cr
- Carrier MARC source
- rdacarrier
- Content category
- text
- Content type code
-
- txt
- Content type MARC source
- rdacontent
- Contents
- Cover; Contents; Abstract; I INTRODUCTION; II DATA; III PASS-THROUGH FROM U.S TO DOMESTIC INTEREST RATES; IV WHAT CAN BE EXPECTED FROM U.S MONETARY POLICY NORMALIZATION?; V THE FED'S NORMALIZATION AND MONETARY AUTONOMY ELSEWHERE; VI EXPLORING THE DETERMINANTS OF MONETARY AUTONOMY; VII CONCLUSION AND POLICY IMPLICATIONS
- Control code
- 961010850
- Extent
- 1 online resource (46 pages)
- Form of item
- online
- Isbn
- 9781475543247
- Issn
- 1018-5941
- Media category
- computer
- Media MARC source
- rdamedia
- Media type code
-
- c
- Other control number
- 10.5089/9781475543056.001
- Other physical details
- color illustrations
- Specific material designation
- remote
- System control number
-
- imfWPIEA2016195
- (IMF)WPIEA2016195
- (OCoLC)961010850
- Label
- U.S. monetary policy normalization and global interenst rates, prepared by Carlos Caceres, Yan Carrière-Swallow, Ishak Demir, and Bertrand Gruss
- Note
-
- "September 2016."
- At head of title: International Monetary Fund, Western Hemisphere Department
- Bibliography note
- Includes bibliographical references (pages 34-36)
- Carrier category
- online resource
- Carrier category code
-
- cr
- Carrier MARC source
- rdacarrier
- Content category
- text
- Content type code
-
- txt
- Content type MARC source
- rdacontent
- Contents
- Cover; Contents; Abstract; I INTRODUCTION; II DATA; III PASS-THROUGH FROM U.S TO DOMESTIC INTEREST RATES; IV WHAT CAN BE EXPECTED FROM U.S MONETARY POLICY NORMALIZATION?; V THE FED'S NORMALIZATION AND MONETARY AUTONOMY ELSEWHERE; VI EXPLORING THE DETERMINANTS OF MONETARY AUTONOMY; VII CONCLUSION AND POLICY IMPLICATIONS
- Control code
- 961010850
- Extent
- 1 online resource (46 pages)
- Form of item
- online
- Isbn
- 9781475543247
- Issn
- 1018-5941
- Media category
- computer
- Media MARC source
- rdamedia
- Media type code
-
- c
- Other control number
- 10.5089/9781475543056.001
- Other physical details
- color illustrations
- Specific material designation
- remote
- System control number
-
- imfWPIEA2016195
- (IMF)WPIEA2016195
- (OCoLC)961010850
Subject
- Electronic books
- Foreign exchange rates
- Foreign exchange rates -- United States
- Interest rates
- Interest rates -- United States
- Monetary policy
- Monetary policy -- United States
- United States
- Dollarization -- United States
- Dollarization
- Business cycles -- United States
- Business cycles
Genre
Member of
Library Links
Embed
Settings
Select options that apply then copy and paste the RDF/HTML data fragment to include in your application
Embed this data in a secure (HTTPS) page:
Layout options:
Include data citation:
<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.sandiego.edu/portal/U.S.-monetary-policy-normalization-and-global/EkhM39HVPEc/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.sandiego.edu/portal/U.S.-monetary-policy-normalization-and-global/EkhM39HVPEc/">U.S. monetary policy normalization and global interenst rates, prepared by Carlos Caceres, Yan Carrière-Swallow, Ishak Demir, and Bertrand Gruss</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.sandiego.edu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.sandiego.edu/">University of San Diego Libraries</a></span></span></span></span></div>
Note: Adjust the width and height settings defined in the RDF/HTML code fragment to best match your requirements
Preview
Cite Data - Experimental
Data Citation of the Item U.S. monetary policy normalization and global interenst rates, prepared by Carlos Caceres, Yan Carrière-Swallow, Ishak Demir, and Bertrand Gruss
Copy and paste the following RDF/HTML data fragment to cite this resource
<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.sandiego.edu/portal/U.S.-monetary-policy-normalization-and-global/EkhM39HVPEc/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.sandiego.edu/portal/U.S.-monetary-policy-normalization-and-global/EkhM39HVPEc/">U.S. monetary policy normalization and global interenst rates, prepared by Carlos Caceres, Yan Carrière-Swallow, Ishak Demir, and Bertrand Gruss</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.sandiego.edu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.sandiego.edu/">University of San Diego Libraries</a></span></span></span></span></div>