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Author/Editor:
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Carolina Osorio ; Esteban Vesperoni
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Publication Date:
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July 23, 2015
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Electronic Access:
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Free Full text
(PDF file size is 1,046KB).
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Disclaimer: This Policy Dicussion Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
This report analyzes the possible spillover effects that could result if the U.S. normalizes its monetary policy while euro area countries are increasing monetary stimulus (a situation referred to as asynchronous monetary conditions). This analysis identifies country-specific shocks to economic activity and monetary conditions since the early 1990s, finding that real and monetary conditions in the United States and the euro area have oftentimes been asynchronous and have often resulted in significant spillover effects, particularly since early 2014.
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Order a print copy
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Series:
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Policy Discussion Paper No. 15/1
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Subject(s):
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Spillovers | Negative spillovers | Positive spillovers | United States | Euro Area | Monetary policy
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Notes
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See also 2015 Spillover Report and Spillovers from Dollar Appreciation
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