URL details: laurent-ferrara.org/2018/09/26/fomc-members-account-for-international-environment/#content
URL title:
FOMC members account for international environment | Laurent Ferrara
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What role does the international environment play in shaping US monetary policy decisions? To measure its influence, we construct an international indicator extracted from minutes of Fed monetary policy committee meetings. In a Taylor rule model, we show that the indicator has a significant and negative impact on the fed funds rate. Discussions centred more…
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