Analysis of Countries Short-term Interest Rates Responses to U.S. Monetary Policy Shock (in Persian)

Mahrad Sharifvaghefi () and Mahdi Barakchian ()
Additional contact information
Mahrad Sharifvaghefi: Iran
Mahdi Barakchian: Iran

Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی), 2015, vol. 8, issue 25, 355-378

Abstract: There have been numerous papers worked on the effect of U.S. monetary policy on other countries macroeconomic variables. However, few papers focus on foreign countries monetary policy reactions to U.S. monetary policy. The main purpose of this paper is to find out how foreign countries policy makers react to U.S. monetary policy. In order to answer this question, we examine the effect of exogenous U.S. monetary policy shock on other countries’ short term interest rates. The second part of the paper tries to find that which factors can explain the differences in countries’ monetary policy reactions. Our results show that monetary policy independence, financial openness, central bank independence, and U.S. trade share of countries GDP can explain countries different reactions to U.S. monetary policy.

JEL-codes: F31 F33 F42 (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

Downloads: (external link)
http://jmbr.mbri.ac.ir/article-1-164-en.pdf (application/pdf)
http://jmbr.mbri.ac.ir/article-1-164-en.html (text/html)
http://jmbr.mbri.ac.ir/article-1-164-fa.html (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mbr:jmbres:v:8:y:2015:i:25:p:355-378

Access Statistics for this article

More articles in Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی) from Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran Contact information at EDIRC.
Bibliographic data for series maintained by M. E. ().