Monetary policy spillovers through debt currencies

被引：0
|
作者：
Qiu, Yancheng [1 ]
机构：
[1] Univ Sydney, Univ Sydney Business Sch, Sydney, NSW 2006, Australia
来源：
ECONOMICS LETTERS | 2024年 / 236卷
关键词：
Foreign currency debt; Exchange rates; Monetary policy shocks; Firm-level data;
D O I：
10.1016/j.econlet.2024.111610
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Using high-frequency measures of monetary policy shocks, I show that stock returns for non-US firms with a higher foreign debt ratio systematically respond more to US monetary policy via the exchange rate channel, especially for those firms with dollar-denominated bonds. I do not find similar transmission effects from European Central Bank monetary policy shocks to firms with euro-denominated debt.
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页数：5
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