Arora, Vivek B.; Cerisola, Martin D. - International Monetary Fund (IMF) - 2000
This paper quantifies the economic impact of changes in U.S. monetary policy on emerging market countries. We explore … empirically how country risk, as proxied by sovereign bond spreads, is influenced by U.S. monetary policy, country ….S. monetary policy on economic conditions in developing countries. While country-specific fundamentals are important in explaining …