This chapter assesses the volatility spillover from US monetary policy consequent upon the onset of three episodes primarily engineered by the US Fed, namely quantitative easing 1, taper tantrum and balance sheet normalization (BSN) to select emerging market economies (Brazil, India, Russia,...

"Historians have not convincingly explained modern capitalism's two major economic crises, the Great Depression of the 1930s, and the Global Financial Crisis (GFC) of 2008-2009. Accounting for Crises offers a new explanation, why both began and were more severe in the USA ("America"), based on...