(PCP) and local-currency pricing (LCP). In the model, under DCP the output spillovers from shocks that appreciate the U … prediction from DCP the output spillovers from U.S. dollar appreciation correlate negatively with recipient economies' export …

-currency pricing (PCP) and local-currency pricing (LCP). In the model, under DCP the output spillovers from shocks that appreciate the … prediction from DCP the output spillovers from US dollar appreciation correlate negatively with recipient economies’ export …

policy shock. Moreover, spillbacks materialise as stock market wealth effects impinge on US consumption, and as Tobin's q … effects impinge on US investment. In particular, a contractionary US monetary policy shock depresses global equity prices …

We estimate spillovers from US monetary policy for different measures in the Federal Reserve's toolkit. We make use of … spillovers than conventional rate policy; (ii) spillovers transmit predominantly through financial channels centering on global … entail only rather limited term premium spillovers; (iv) both forward guidance and LSAPs entail trade-offs for emerging …

with those of the rest of the world. We analyse the relative importance of US, country-specific, and global variables as …. Global and national risk indicators perform better in explaining "rest of the world" flows. Moreover, we find that the … correlation between US and rest of the world flows peaks in periods of elevated uncertainty. We interpret our findings as evidence …