Korean paper explores ‘divergent’ spillovers to EMs
Macro-prudential policies key to protecting emerging markets from spillovers
"Strong" macroeconomic fundamentals are the best way for emerging economies to improve their resiliency to spillovers, a working paper published by the Bank of Korea argues.
In The Spillover Effects of U.S. Monetary Policy on Emerging Market Economies: Breaks, Asymmetries and Fundamentals, Geun-Young Kim, Hail Park and Peter Tillmann examine the spillovers created by US monetary policy on 10 emerging economies using a series of value-at-risk models.
The authors find spillovers are "divergent" in
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