NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Banking Globalization, Transmission, and Monetary Policy Autonomy

Linda S. Goldberg

NBER Working Paper No. 19497
Issued in October 2013

---- Acknowledgements -----

The views expressed in this paper are those of the individual authors and do not necessarily reflect the position of the Federal Reserve Bank of New York, the Federal Reserve System, or the National Bureau of Economic Research. Arun Gupta provided excellent research assistance. I deeply appreciate comments and feedback received from participants at the Sveriges Riksbank Conference on Two Decades of Inflation Targeting: Main Lessons and Remaining Challenges, especially from Karolina Ekholm, and from Nicola Cetorelli, Michael Klein, Hamid Mehran, Maurice Obstfeld, Jay Shambaugh, and Chris Sims. Data from Michael Klein, Jay Shambaugh, and Neeltje van Horen are gratefully acknowledged.

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