Series Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board , Washington , D . C . US Monetary Policy and International Bond Markets

@inproceedings{Gilchrist2018SeriesDO,
  title={Series Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board , Washington , D . C . US Monetary Policy and International Bond Markets},
  author={Simon G. Gilchrist and Vivian Zhanwei Yue},
  year={2018}
}
This paper uses high-frequency data to analyze the effects of US monetary policy—during the conventional and unconventional policy regimes—on foreign government bonds markets in advanced and emerging market economies. The results indicate that an expansionary US monetary policy steepens the foreign yield curve—denominated in local currency—during a conventional US monetary policy regime and flattens the foreign yield curve during an unconventional policy regime. The passthrough of… CONTINUE READING

References

Publications referenced by this paper.
SHOWING 1-10 OF 45 REFERENCES

Domestic Financial Policies Under Fixed and Under Floating Exchange Rates,

M. J. Fleming
  • International Monetary Fund Staff Papers,
  • 1962
VIEW 4 EXCERPTS
HIGHLY INFLUENTIAL

The Response of Interest Rates to US and UK Quantitative Easing,

J. H. Christensen, D G.
  • Rudebusch
  • 2012
VIEW 3 EXCERPTS
HIGHLY INFLUENTIAL

Similar Papers

Loading similar papers…