F4 - Macroeconomic Aspects of International Trade and Finance - Bank of Canada
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2024-03-29T09:29:17+00:00
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Monetary Policy Independence and the Strength of the Global Financial Cycle
https://www.bankofcanada.ca/2020/06/staff-working-paper-2020-25/
We propose a new strength measure of the global financial cycle by estimating a regime-switching factor model on cross-border equity flows for 61 countries. We then assess how the strength of the global financial cycle affects monetary policy independence, which is defined as the response of central banks' policy interest rates to exogenous changes in inflation.
2020-06-10T11:42:33+00:00
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Monetary Policy Independence and the Strength of the Global Financial Cycle
2020-06-10
Business fluctuations and cycles
Exchange rate regimes
Financial system regulation and policies
International financial markets
Monetary policy
Staff Working Paper 2020-25
https://www.bankofcanada.ca/wp-content/uploads/2020/06/swp2020-25.pdf
Monetary Policy Independence and the Strength of the Global Financial Cycle
Christian Friedrich
Pierre Guérin
Danilo Leiva-Leon
June 2020
E
E4
E5
F
F3
F32
F4
F42
G
G1
G15
G18