Choi, Woo Jin - In: KDI Journal of Economic Policy 42 (2020) 4, pp. 59-90
U.S. monetary policy has been claimed to generate global spillover and to destabilize other small open economies. We … portfolio flows. Second, however, the marginal response to a U.S. monetary policy shock is, on average, subdued if we focus on … value of net worth increases, the marginal responses by both investors would drop with a U.S. monetary policy shock …