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Financial Flows and the International Monetary System / Evgenia Passari, Hélène Rey.
- Format:
- Book
- Author/Creator:
- Passari, Evgenia.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w21172.
- NBER working paper series no. w21172
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2015.
- Summary:
- We review the findings of the literature on the benefits of international financial flows and find that they are quantitatively elusive. We then present evidence on the existence of a global cycle in gross cross border flows, asset prices and leverage and discuss its impact on monetary policy autonomy across different exchange rate regimes. We focus in particular on the effect of US monetary policy shocks on the UK's financial conditions.
- Notes:
- Print version record
- May 2015.
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