About this document
Monetary Policy Spillovers Examined by Chandan Singh is a document available to read on EtoBox.
This document analyzes the international spillover effects of conventional monetary policy versus quantitative easing (QE) by the Federal Reserve. It uses a term structure model to decompose changes in US long-term bond yields around Fed announcements into changes in expected short rates and term premiums. It finds that the US dollar and foreign bond yields are more sensitive to changes in expected short rates, indicating conventional policy has larger spillovers, contradicting the view that QE spillovers a
- Author
- Chandan Singh
- Language
- EN