The empirics of international monetary transmission: Identification and the impossible trinity.
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...Expand abstract
- Publisher copy:
- Copyright date:
Views and Downloads
If you are the owner of this record, you can report an update to it here: Report update to this record