Remarks at the Whitman School of Management at Syracuse University, Syracuse, New York.

Remarks at the Whitman School of Management at Syracuse University, Syracuse, New York.

This paper documents the impact of U.S. monetary policy announcement surprises on foreign equity indexes, short- and long-term interest rates, and exchange rates in 49 countries. We use two proxies for monetary policy surprises: the surprise change to the current target federal funds rate...

Notwithstanding the effects of the expansive policies in the advanced economies, due to the 2008 financial crises, could raise their interest rates, generating a crowding-out effect over emerging market debt, this relation could not hold given the better fiscal position of these economies, such...

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...

This paper analyzes some recent theoretical and practical evidence in terms of economic results of different exchange rate systems. It begins with a historical review and a summary of fixed versus flexible exchange rate systems. Then it compares the experiences of recent currency unions, mostly...