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 …

considerably over the past decade. The estimated sensitivity to US monetary policy rose substantially in the immediate aftermath of … policy was the degree of convergence among advanced economy monetary policies. Meanwhile, the post-crisis fall in the …

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

The development of macroprudential policy tools has been one of the most significant changes in banking regulation in … instruments to study international spillovers of prudential policy changes and their effects on bank lending growth. The … rates. Third, the effects of international spillovers of prudential policy on loan growth rates have not been large on …

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

by policy responses. This paper presents a theory-based measure of capital flow pressures, a new Exchange Market Pressure … policy changes. We use the index to identify so called safe-haven and risk-on status currencies and investigate the drivers …

, we show that the second dimension magnifies the exposure of periphery countries to the center's monetary policy, even … to the center's monetary policy, the model predicts substantial welfare gains from coordinated monetary policy. Our model … component of optimal policy …