The impact of foreign interest rates on the economy : the role of the exchange rate regime /

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Bibliographic Details
Author / Creator:	Di Giovanni, Julian, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, Middle East and Central Asia Dept., 2006.
Description:	1 online resource (44 pages).
Language:	English
Series:	IMF working paper ; WP/06/37 IMF working paper ; WP/06/37.
Subject:	Interest rates -- Econometric models. Foreign exchange administration -- Econometric models. Monetary policy -- Econometric models. Foreign exchange administration -- Econometric models. Interest rates -- Econometric models. Monetary policy -- Econometric models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12498755

Hidden Bibliographic Details
Other authors / contributors:	Shambaugh, Jay C., author. International Monetary Fund. Middle East and Central Asia Department.
ISBN:	1283514001 9781283514002 9781451862973 1451862970
Notes:	Includes bibliographical references (pages 41-44). Print version record.
Summary:	This paper explores the connection between interest rates in major industrial countries and annual real output growth in other countries. The results show that high large-country interest rates have a contractionary effect on annual real GDP growth in the domestic economy, but that this effect is centered on countries with fixed exchange rates. The paper then examines the potential channels through which large-country interest rates affect small economies. The direct monetary policy channel is the most likely channel when compared with other possibilities, such as a general capital market effect or a trade effect.
Standard no.:	10.5089/9781451908336.001

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