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International Comovement in the Global Production Network

Huo, Zhen - 2019

comovement. We first derive an additive decomposition of bilateral GDP comovement into components capturing shock transmission … and shock correlation. We quantify this decomposition in a parsimonious multi-country, sector and factor network … propagation model featuring a single composite supply shock, with data for 29 countries and up to 30 years. We find that the …

Persistent link: https://www.econbiz.de/10012867903

Monetary Policy Through Production Networks : Evidence from the Stock Market

Ozdagli, Ali K. - 2017

Monetary policy shocks have a large impact on stock returns in narrow windows around press releases by the Federal Reserve. We use spatial autoregressions to decompose the overall effect of monetary policy shocks into a direct effect and an indirect (network) effect. We attribute 50%-85% of the...

Persistent link: https://www.econbiz.de/10012955942

U.S. Monetary Policy and International Risk Spillovers

Kalemli-Özcan, Ṣebnem - 2019

I show that monetary policy divergence vis-a-vis the U.S. has larger spillover effects in emerging markets than advanced economies. The monetary policy of the U.S. affects domestic credit costs in other countries through its effect on global investors' risk perceptions. Capital flows in and out...

Persistent link: https://www.econbiz.de/10012862411

Innovation and Production in the Global Economy

Arkolakis, Costas - 2015

of China into the world economy may hurt countries that are driven to specialize in production due to HMEs, although …

Persistent link: https://www.econbiz.de/10013035693

Are the Effects of Monetary Policy Shocks Big or Small?

Coibion, Olivier - 2011

are consistent across approaches and most likely medium. Alternative monetary policy shock measures from estimated Taylor …

Persistent link: https://www.econbiz.de/10013125566

Turnover Liquidity and the Transmission of Monetary Policy

Lagos, Ricardo - 2018

We provide empirical evidence of a novel liquidity-based transmission mechanism through which monetary policy influences asset markets, develop a model of this mechanism, and assess the ability of the quantitative theory to match the evidence

Persistent link: https://www.econbiz.de/10012910296

International Channels of Transmission of Monetary Policy and the Mundellian Trilemma

Rey, Hélène - 2016

autonomy in a world of large capital flows …

Persistent link: https://www.econbiz.de/10013001776

On the Global Impact of Risk-Off Shocks and Policy-Put Frameworks

Caballero, Ricardo J. - 2019

Global risk-off shocks can be highly destabilizing for financial markets and, absent an adequate policy response, may trigger severe recessions. Policy responses were more complex for developed economies with very low interest rates after the Global Financial Crisis (GFC). We document, however,...

Persistent link: https://www.econbiz.de/10012867100

International Transmissions of Monetary Shocks : Between a Trilemma and a Dilemma

Han, Xuehui - 2016

This paper re-examines international transmissions of monetary policy shocks from advanced economies to emerging market economies. In terms of methodologies, it combines three novel features. First, it separates co-movement in monetary policies due to common shocks from spillovers of monetary...

Persistent link: https://www.econbiz.de/10012979377

Inflation, Monetary Policy and Stock Market Conditions

Bordo, Michael D. - 2008

This paper examines the association between inflation, monetary policy and U.S. stock market conditions during the second half of the 20th century. We estimate a latent variable VAR to examine how macroeconomic and policy shocks affect the condition of the stock market. Further, we examine the...

Persistent link: https://www.econbiz.de/10012771830

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