Past empirical research on monetary policy in open economies has found evidence of the 'delayed overshooting', the … appreciation happens during the first year after the shock for the US-German and the US-UK pair, and during the first two years for … the US-Japan pair. This is consirably quicker than the three-year horizon found by Eichenbaum-Evans. There is a robust …

U.K., Japan, France and Germany with respect to the United States is conducted. The resulting conclusion is that real … Employment -- Some Important Implications -- Exchange Rate Overshooting -- Exchange Rate Determination -- Issues Regarding … countries, to avoid exchange rate overshooting, have tended to automatically follow the same monetary policy as the United …

and affects the overall effectiveness of forward guidance. We find that the central banks of the U.S., the U.K., Germany …, and other major advanced economies have similar levels of credibility (albeit far from full credibility); however, Japan …