Series: IMF Working Papers
Author(s): Julian Di Giovanni , and Jay Shambaugh
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 February 2006
Keywords: Exchange rate regime, international transmission, exchange rate, inflation, nominal interest rate, Macroeconomic Aspects Of International Trade And Finance,
This paper explores the connection between interest rates in major industrial countries and annual real output growth in other countries. The results show that high large-country interest rates have a contractionar...