consequences for economic and financial stability, including the ability of countries to conduct autonomous monetary policy. I … address the monetary autonomy issue in the context of the international policy trilemma: Countries seek three typically … desirable but jointly unattainable objectives — stable exchange rates, free international capital mobility, and monetary policy …

become cheaper in the rest of the world. Real U.S. imports are affected less because U.S. prices are more insulated from …

dimension magnifies the exposure of periphery countries to the center's monetary policy, even when direct trade flows between … the center and the periphery are limited. When intra-periphery trade volumes are sensitive to the center's monetary policy …, the model predicts substantial welfare gains from coordinated monetary policy. Our model also shows that although exchange …

Network, established in 2012, brings together researchers from around the world with access to micro-level data on individual …

Network (IBRN) on the cross-border transmission of conventional and unconventional monetary policy through banks. Teams from … supportive of the international bank lending channel and the portfolio channel of monetary policy transmission. They also show …