This paper explores for spillovers from monetary policy in the United States to a number of emerging market economies. We estimate the Elder and Serletis (2010) bivariate structural GARCH-in-Mean VAR in the U.S. monetary policy rate and the policy rate of each of six emerging economies that...

As the world economic power shifts from the advanced G7 countries — Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States — to the seven largest emerging market countries (EM7) — Brazil, China, India, Indonesia, Mexico, Russia, and Turkey — the vulnerability of...