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

Jeffrey A. Frankel · Sergio L. Schmukler · Luis Servén

জানু ২০০০ · World Bank Publications

এই ইবুকখনৰ বিষয়ে

Hikes in U.S. interest rates in 1999-2000 have started to spill over to other economies' interest rates, which in many countries have risen to reflect the higher U.S. rates. Are countries with flexible exchange rates better able to isolate their domestic interest rates from this type of negative international shock? Less and less so, as economies become more integrated.