Global Transmission of Interest Rates : Monetary Independence and the Currency Regime

Global Transmission of Interest Rates : Monetary Independence and the Currency Regime

The authors empirically study the sensitivity of local interest rates to international interest rates and how that sensitivity is affected by a country's choice of exchange rate regime. To establish the empirical regularities, they use a reduc...

Full description

Bibliographic Details
Main Authors:	Frankel, Jeffrey, Schmukler, Sergio L., Serven, Luis
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	BALANCE OF PAYMENTS BUSINESS CYCLES CAPITAL FLOWS CAPITAL MOBILITY COUNTRY SAMPLE COVERAGE CURRENCY BOARDS CURRENCY PREMIUM CURRENCY RISK DEVALUATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DOMESTIC ECONOMY DOMESTIC INTEREST RATES DOMESTIC PRODUCTS EMERGING ECONOMIES EMERGING MARKETS EMPIRICAL EVIDENCE EMPIRICAL STUDIES EMPLOYMENT EXCHANGE RATE EXCHANGE RATE ARRANGEMENTS EXCHANGE RATE CRISES EXCHANGE RATE REGIME EXCHANGE RATE REGIMES EXCHANGE RATE RISK EXCHANGE RATES FINANCIAL INTEGRATION FINANCIAL MARKETS FIXED EXCHANGE RATE FIXED EXCHANGE RATES FLOATING EXCHANGE RATE FOREIGN EXCHANGE FOREIGN INFLATION FOREIGN INTEREST RATE FOREIGN INTEREST RATES FUTURE RESEARCH INCOME INCOME COUNTRIES INCOME DEVELOPING COUNTRIES INCOME GROUP INDUSTRIAL COUNTRIES INDUSTRIAL ECONOMIES INFLATION RATES INTEREST RATES INTERMEDIATE REGIMES INTERNATIONAL CAPITAL FLOWS INTERNATIONAL MONETARY FUND LOCAL CURRENCY MACROECONOMICS MARKET FORCES MONETARY AREA MONETARY ECONOMICS MONETARY EXPANSION MONETARY POLICY MONETARY UNION MONEY SUPPLY NOMINAL ANCHOR NOMINAL EXCHANGE RATE NOMINAL INTEREST RATE NOMINAL INTEREST RATES POLICY RESEARCH RISK PREMIUM TRANSACTIONS COSTS TRANSMISSION PROCESS
Online Access:	http://documents.worldbank.org/curated/en/2000/08/693335/global-transmission-interest-rates-monetary-independence-currency-regime http://hdl.handle.net/10986/19808

Internet

http://documents.worldbank.org/curated/en/2000/08/693335/global-transmission-interest-rates-monetary-independence-currency-regime
http://hdl.handle.net/10986/19808

Cannot write session to /tmp/vufind_sessions/sess_p5ie5prkap68mb9m23lncop3rf