dam a22 2 4500 529026627 CHVBK 20200911032741.0 cr || |||||||| 180926s2018 sz om 00 eng d (IDSSG)001020193 SzZuIDS HSG ger rda 330 15605256101 edok Zimmermann Simon Verfasser aut The Global Effects of US Monetary Policy an inquiry into the spillovers of federal reserve policies on emerging market economies Simon Zimmermann Die globalen Auswirkungen der US Geldpolitik eine Untersuchung von Spillover-Effekten von geldpolitischen Massnahmen der Federal Reserve auf Emerging Market Economies St. Gallen 2018 1 Online-Ressource Text txt rdacontent/ger Computermedien c rdamedia/ger Online-Ressource cr rdacarrier/ger Bachelor-Arbeit / Universität St. Gallen Bachelorarbeit Universität St. Gallen 2018 Over the past few decades, the world has witnessed a strongly increasing trend toward global economic and financial integration. This phenomenon has raised the question -- if central banks in today's integrated world economy are still able to conduct an optimal monetary policy for their countries and if global interconnectedness can cause detrimental monetary spillovers from large, advanced economies such as the United States (US) on emerging market economies (EMEs) and advanced small open economies. This paper contributes to the broad literature on scrutinizing monetary policy spillovers from the US on EMEs. In an empirical analysis of spillovers to the "Fragile Five" economies Brazil, India, Indonesia, Turkey, and South Africa over almost two decades, I find compelling evidence for the existence of significant US monetary spillovers. Policy implications include domestic measures such as macroprudential regulation or capital controls. On the international level, closure cooperation between central banks to internalize spillovers would also contribute to improving global financial stability. Due to potential conflicts with domestic mandates of central banks, however, such cross-country cooperation measures may not be politically feasible in the short-term. Federal Reserve System (DE-588)16143509-9 gnd Geldpolitik (DE-588)4019902-2 gnd Spill-over-Effekt (DE-588)4225795-5 gnd Entwicklungsländer (DE-588)4014954-7 gnd Monetary Policy; Spillover Effects; Emerging Markets; Federal Reserve Spillover Effekte Hochschulschrift gnd-content Cozzi Guido 1964- (DE-588)171715578 Akademischer Betreuer dgs http://www1.unisg.ch/org/biblio/edoc.nsf/SysLkpByIdentifier/15605256101/$FILE/15605256101.pdf Volltext für Angehörige der Universität St. Gallen BK020353 XK020053 XK020000 IDSSG 100 1- Zimmermann Simon Verfasser aut IDSSG 490 0- Bachelor-Arbeit / Universität St. Gallen IDSSG 700 1- Cozzi Guido 1964- (DE-588)171715578 Akademischer Betreuer dgs IDSSG 856 4- http://www1.unisg.ch/org/biblio/edoc.nsf/SysLkpByIdentifier/15605256101/$FILE/15605256101.pdf Volltext für Angehörige der Universität St. Gallen