This paper studies how U.S. monetary policy affects global stock prices. We find that global stock prices respond strongly to changes in U.S. interest rate poli

The question of whether central banks should target stock prices so as to prevent bubbles and crashes from occurring has been hotly debated. This paper analyses

We estimate the interdependence between US monetary policy and the S&P 500 using structural VAR methodology. A solution is proposed to the simultaneity problem

United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous sho

Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movem