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Balance sheets, exchange rates, and international monetary spillovers

Akinci, Ozge; Queralto, Albert - 2018

We use a two-country New Keynesian model with balance sheet constraints to investigate the magnitude of international spillovers of U.S. monetary policy. Home borrowers obtain funds from domestic households in domestic currency, as well as from residents of the foreign economy (the United...

Persistent link: https://www.econbiz.de/10011857420

U.S. Monetary Policy Spillovers to Emerging Markets : Both Shocks and Vulnerabilities Matter

Ahmed, Shaghil; Akinci, Ozge; Queralto, Albert - 2021

Using a macroeconomic model, we explore how sources of shocks and vulnerabilities matter for the transmission of U.S. monetary changes to emerging market economies (EMEs). We utilize a calibrated two-country New Keynesian model with financial frictions, partly-dollarized balance sheets, and...

Persistent link: https://www.econbiz.de/10013219082

U.S. Monetary Policy Spillovers to Emerging Markets : Both Shocks and Vulnerabilities Matter

Ahmed, Shaghil; Akinci, Ozge; Queralto, Albert - 2021

We explore how the sources of shocks driving interest rates, country vulnerabilities, and central bank communications affect the spillovers of U.S. monetary policy changes to emerging market economies (EMEs). We utilize a two-country New Keynesian model with financial frictions and partly...

Persistent link: https://www.econbiz.de/10013221185

U.S. monetary policy spillovers to emerging markets: both shocks and vulnerabilities matter

Ahmed, Shaghil; Akinci, Ozge; Queralto, Albert - 2021

Persistent link: https://www.econbiz.de/10012584356

An evaluation of equilibrium business cycle models in the presence of statistical nonlinearities

Valderrama, Diego - 2003

Persistent link: https://www.econbiz.de/10003624836

U.S. Dollar Currency Premium in Corporate Bonds

Caramichael, John; Gopinath, Gita; Liao, Gordon - 2022

observe a dollar safety premium in relative hedged borrowing costs, found in the subset of bonds with high credit ratings and …

Persistent link: https://www.econbiz.de/10013306776

Spillovers of US unconventional monetary policy : quantitative easing, spreads, and international financial markets

Yildirim, Zekeriya; Ivrendi, Mehmet - In: Financial innovation : FIN 7 (2021), pp. 1-38

This study investigates the international spillover effects of US unconventional monetary policy (UMP) - frequently called large-scale asset purchases or quantitative easing (QE) - on advanced and emerging market economies, using structural vector autoregressive models with high-frequency daily...

Persistent link: https://www.econbiz.de/10012798677

From boom to bust : how different has microfinance been from traditional banking?

Wagner, Charlotte - 2010

developing countries. The findings indicate that microfinance has been part of the same credit boom observed in the traditional … characterizing feature of microfinance or whether the same risk factors associated with excessive credit growth lead "as in the …, high credit growth rates and rapidly increasing competition experienced a substantial decrease in credit growth and …

Persistent link: https://www.econbiz.de/10008758753

U.S. Monetary Policy and Income Inequality in Small Open Economies

Dash, Pradyumna; Kumar, Ankit; Subramanian, Chetan - 2021

Abstract We study the distributional and welfare implications of U.S. monetary policy shocks in a small open economy under the classic rules of an exchange rate peg and inflation targeting. In a model with heterogenous agents, we show that contractionary (expansionary) monetary policy shocks in...

Persistent link: https://www.econbiz.de/10013242240

Monetary policy rules and oil price shocks

Kamps, Christophe - 2002

Persistent link: https://www.econbiz.de/10013261171