Global Transmission of Interest Rates: Monetary Independence and the Currency Regime
Jeffrey A. Frankel · Sergio L. Schmukler · Luis Servén
Jan 2000 · World Bank Publications
Ebook
33
Pages
About this ebook
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.
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