This paper reviews the role of long-term interest rates in international monetary transmission
and related policy challenges in the wake of exceptionally easy US monetary policy. It …

This paper studies the transmission of US monetary shocks across the globe by employing a
high-frequency identification of policy shocks and large VAR techniques, in conjunction with …

We examine the potential adverse effects of a prolonged period of low interest rates on
financial stability from multiple perspectives. First, we provide a unique comparison of …

Increases in US interest rates are often thought to generate adverse spillovers to emerging
market economies (EMEs). We show that whether US rate hikes are bad news for EMEs …

We study the ways domestic and external global factors (such as risk appetite, global
liquidity, US monetary policy, and commodity prices) affected the exchange market pressure …

Interest rates have moved closely together internationally in recent years, despite business
cycles often being at different stages across countries. We investigate whether international …

This paper relies on a high‐frequency identification approach to provide new insights into
monetary policy spillovers by major central banks. Our long and broad sample (1999–2019 …

We quantify the causal link between exchange rate movements and sovereign risk of 16
major emerging market economies (EMEs) by means of structural vector autoregressive …

Financial conditions in the emerging markets (EMs) have become more dependent on
the'world'long-term interest rate, which has been driven down by monetary policies in the …

In this paper, we examine whether financial spillovers from the European Central Bank's
monetary policy have consequences for the effectiveness of domestic monetary policy in …