| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21722 |
| 来源ID | Working Paper 21722 |
| US Monetary Policy and the Global Financial Cycle | |
| Silvia Miranda-Agrippino; Hélène Rey | |
| 发表日期 | 2015-11-16 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | US monetary policy shocks induce comovements in the international financial variables that characterize the “Global Financial Cycle.” One global factor explaining an important share of the variation of risky asset prices around the world decreases significantly after a US monetary contraction. Monetary tightening in the US leads to significant deleveraging of global financial intermediaries, a decline in the provision of domestic credit globally, strong retrenchments of international credit flows, and tightening of foreign financial conditions. Countries with floating exchange rate regimes are subject to similar financial spillovers. |
| 主题 | Macroeconomics ; Money and Interest Rates ; Monetary Policy ; International Economics ; International Finance ; International Macroeconomics ; Financial Economics ; Financial Markets |
| URL | https://www.nber.org/papers/w21722 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579397 |
| 推荐引用方式 GB/T 7714 | Silvia Miranda-Agrippino,Hélène Rey. US Monetary Policy and the Global Financial Cycle. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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