Seminar

Seminar: Global spillovers of US monetary policy: is there scope for international coordination?

On Tuesday February 26th 2019, Paul van den Noord (UvA) will give a presentation titled: "Global spillovers of US monetary policy: is there scope for international coordination?"

Date
February 26, 2019
Time
13:00 - 14:00
Location
CPB-office, Bezuidenhoutseweg 30, The Hague (Room 3 - Braamzaal)
Presentation
Paul van den Noord (UvA)
Discussant
Kan Ji (CPB)
Working language
English

Past decades have seen bouts of global financial instability each time the monetary policy cycle turned in the United States. We argue that this global spillover effect is endemic to the international monetary system as currently constructed, including the exchange rate arrangements in emerging market economies, notably China. We find that recurrent financial instability, the secular fall in interest rates and the secular increase in global debt are mutually reinforcing, and that policy coordination among monetary authorities in the developed world – though difficult to achieve within their current mandates – should help mitigate these tendencies.

Contacts

Foto Benedikt Vogt
Benedikt Vogt +31 6 50630893 Read more