Kamin, Steven; Carrillo-Maldonado, Paul; Clements, … - 2024
, U.S. monetary policies tend to spill over to foreign economies, whether or not they have their own currency. In this … paper, we address this issue empirically by comparing the response to changes in U.S. interest rates of domestic deposit and …-dollarized economies (Chile, Colombia, and Mexico). We find, first, that domestic bank interest rates are not perfectly responsive to U.S …