Gilchrist, Simon; Yue, Vivian Z.; Zakrajšek, Egon - 2018
This paper uses high-frequency data to analyze the effects of US monetary policy--during the conventional and … that an expansionary US monetary policy steepens the foreign yield curve--denominated in local currency--during a … conventional US monetary policy regime and flattens the foreign yield curve during an unconventional policy regime. The passthrough …