Search Results

Showing results 1 to 1 of approximately 1.

(refine search)
SORT BY: PREVIOUS / NEXT
Keywords:large-scale asset purchase program 

Working Paper
U.S. Unconventional Monetary Policy and Transmission to Emerging Market Economies

We investigate the effects of U.S. unconventional monetary policies on sovereign yields, foreign exchange rates, and stock prices in emerging market economies (EMEs), and we analyze how these effects depend on country-specifc characteristics. We find that, although EME asset prices, mainly those of sovereign bonds, responded strongly to unconventional monetary policy announcements, these responses were not outsized with respect to a model that takes into account each country's time-varying vulnerability to U.S. interest rates affected by monetary policy shocks.
International Finance Discussion Papers , Paper 1109

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

E58 1 items

F42 1 items

G15 1 items

PREVIOUS / NEXT