| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27682 |
| 来源ID | Working Paper 27682 |
| Dollar Safety and the Global Financial Cycle | |
| Zhengyang Jiang; Arvind Krishnamurthy; Hanno Lustig | |
| 发表日期 | 2020-08-17 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We build a model of the global financial cycle with one key ingredient: the demand for safe dollar assets. The model matches patterns of dollar borrowing and currency mismatch, the U.S. external balance sheet, low U.S. interest rates and exorbitant privilege, spillovers of the U.S. monetary policy to the rest of the world, and the dollar as a global risk factor. In doing so, we lay out a novel transmission mechanism through which the U.S. monetary policy affects the currency market and the global economy. |
| 主题 | Macroeconomics ; Money and Interest Rates ; International Economics ; International Finance ; Financial Economics ; Financial Markets |
| URL | https://www.nber.org/papers/w27682 |
| 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/585354 |
| 推荐引用方式 GB/T 7714 | Zhengyang Jiang,Arvind Krishnamurthy,Hanno Lustig. Dollar Safety and the Global Financial Cycle. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27682.pdf（1030KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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