Global Spillovers from FED Hikes and a Strong Dollar: The Risk Channel

José Cristi, Sebnem Kalemli-Ozcan, Mariana Sans and Filiz Unsal

No 32330, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We study the international transmission of U.S. monetary policy (FED hikes) and a strong U.S. dollar. Both of these variables are endogenous and thus we follow the recent developments in the literature to measure the exogenous components of each from the perspective of the rest of the world (ROW). We show that while U.S. monetary policy shocks act as financial shocks increasing risk premia in emerging markets, a shock to U.S. dollar does not generate the same effect.

JEL-codes: F30 (search for similar items in EconPapers)
Date: 2024-04
New Economics Papers: this item is included in nep-ban, nep-cba, nep-mon and nep-opm
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Published as José Cristi & Şebnem Kalemli-Özcan & Mariana Sans & Filiz Unsal, 2024. "Global Spillovers from Fed Hikes and a Strong Dollar: The Risk Channel," AEA Papers and Proceedings, vol 114, pages 157-162.

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