Fratzscher, Marcel; Duca, Marco Lo; Straub, Roland - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2013
procyclical manner for capital flows to emerging markets (EMEs) and a counter-cyclical way for the US, triggering a portfolio …, the impact of Fed operations, such as Treasury and MBS purchases, on portfolio allocations and asset prices dwarfed those … measures have contributed to portfolio reallocation as well as a re-pricing of risk in global financial markets. …