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innovations. We apply the Campbell (1991) decomposition for industry-by-country, all-country, global industry, and world market …
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This paper documents the impact of U.S. monetary policy announcement surprises on foreign equity indexes, short- and long-term interest rates, and exchange rates in 49 countries. We use two proxies for monetary policy surprises: the surprise change to the current target federal funds rate...
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a speech at the Banque de France International Symposium, Paris, France, March 4, 2011
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, particularly to bank loans, can have real effects. This paper presents new evidence on the credit hypothesis for the case of Mexico …
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, we estimate a monetary policy reaction function for Mexico. Based on this estimate, we argue that interest rates rose …, Mexico's experience suggests that policymakers relying on the exchange rate as a nominal anchor probably should be prepared …
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