Narrow search
Showing 1 - 10 of 13,157
Cover Image
What Explains Volatility Spillovers in the Financial Systems of Emerging Market Countries : Co-Movement, Transmission, or Contagion?
Ha, Jongrim - 2020
generally consistent with findings in the literature on time-varying, asymmetric, and contagion-shift spillovers. The paper also … transmission, and contagion, by specifying alternative models that restrict the mean equation of the GARCH model. The results … about fundamentals; during crises, however, while common information plays a role, market contagion also becomes an …
Persistent link: https://www.econbiz.de/10012855235
Cover Image
Spillovers to Emerging Markets from US Economic News and Monetary Policy
Engler, Philipp; Piazza, Roberto; Sher, Galen - 2023
When the U.S. economy sneezes, do emerging markets catch a cold? We show that economic news, and not just monetary policy, in the United States affects financial conditions in emerging markets. News about U.S. employment has the strongest effects, followed by news about economic activity and...
Persistent link: https://www.econbiz.de/10014350292
Cover Image
The coming US interest rate tightening cycle : smooth sailing or stormy waters?
Arteta, Carlos Ó.; Kose, M. Ayhan; Ohnsorge, Franziska; … - 2015
The U.S. Federal Reserve (Fed) is expected to start raising policy interest rates in the near term and thus commence a tightening cycle for the first time in nearly a decade. The taper tantrum episode of May-June 2013 is a reminder that even a long anticipated change in Fed policies can trigger...
Persistent link: https://www.econbiz.de/10011389408
Cover Image
Assessing Global Liquidity
Domanski, Dietrich - 2013
Global liquidity has become a key focus of international policy debates, yet the term continues to be used in a variety of ways. This lack of precision can lead to potentially undesirable policy responses. In this feature, we attempt to clarify the concept of global liquidity, its measurement...
Persistent link: https://www.econbiz.de/10013092011
Cover Image
Global Financial Transmission of Monetary Policy Shocks
Ehrmann, Michael; Fratzscher, Marcel - 2021
The paper shows that US monetary policy has been an important determinant of global equity markets. Analysing 50 equity markets worldwide, we find that returns fall on average around 3.8% in response to a 100 basis point tightening of US monetary policy, ranging from a zero response in some to a...
Persistent link: https://www.econbiz.de/10013317648
Cover Image
Central Bank Digital Currency and Cryptocurrency in Emerging Markets
Le, Anh H. - 2022
Blockchain technology has opened up the possibility of digital currency, smart contracts and much more applications including the launch of central bank digital currencies (CBDC). However, literature about the effect of CBDC with the presence of cryptocurrency for an emerging market economy...
Persistent link: https://www.econbiz.de/10014239122
Cover Image
Risk Taking Spillovers of U.S. Monetary Policy in the Global Market for U.S. Dollar Corporate Loans
Lee, Seung Jung - 2019
We study the effects of short- and longer-term U.S. interest rates on risk taking in the global market for U.S. dollar syndicated term loans. Because banks tend to originate these loans with intent to sell to non-bank investors, we examine risk taking by the broad financial system. To the extent...
Persistent link: https://www.econbiz.de/10012899125
Cover Image
Monetary Policy and Financial Spillovers : Losing Traction?
Disyatat, Piti - 2015
the extent to which external financial conditions complicate the conduct of monetary policy, we isolate a "contagion … contagion measure is designed to more accurately capture spillovers driven by exogenous global shifts in risk preference or …. In particular, emerging market economies appear to be much less susceptible to global contagion than advanced economies …
Persistent link: https://www.econbiz.de/10013014247
Cover Image
Risk taking and interest rates : evidence from decades in the global syndicated loan market
Lee, Seung Jung; Liu, Lucy Qian; Stebunovs, Viktors - 2017
We study how low interest rates in the United States affect risk taking in the market for cross-border corporate loans. Because banks tend to originate these loans with intent to sell to nonbank investors, we examine risk taking by the broad financial system. To the extent that actions of the...
Persistent link: https://www.econbiz.de/10011629893
Cover Image
The international transmission of monetary policy
Buch, Claudia M.; Bussière, Matthieu; Goldberg, Linda S.; … - 2018
This paper presents the novel results from an internationally coordinated project by the International Banking Research Network (IBRN) on the cross-border transmission of conventional and unconventional monetary policy through banks. Teams from seventeen countries use confidential micro-banking...
Persistent link: https://www.econbiz.de/10011877813