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The empirics of international monetary transmission: Identification and the impossible trinity.

Abstract:

The transmission of monetary policy across borders is central to many open economy models. Research has tried to evaluate the " impossible trinity" through estimating international interest rate linkages under alternative exchange rate regimes using realized base country interest rates. Such interest rates include anticipated and endogenous elements, which need not propagate internationally. We compare international interest rate responses under pegged and non-pegged regimes to identified, un...

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Authors


John Bluedorn More by this author
Christopher Bowdler More by this author
Journal:
Journal of Money, Credit, and Banking
Volume:
42
Issue:
4
Publication date:
2010
DOI:
URN:
uuid:51b12ffe-8641-47f4-9feb-5054a40925d8
Local pid:
oai:economics.ouls.ox.ac.uk:14796
Language:
English

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