US Monetary Policy and International Bond Markets
---- Acknowledgments ----
We thank Chris Neely, Argia Sbordone, and Mohamed Shaban for helpful suggestions. We also benefited from comments from participants at the conference on “Macroeconomic Policy Mix in the Transatlantic Economy” organized by the European Commission, Federal Reserve Bank of New York, and CEPR; the 15th Jacques Polak Annual Research Conference organized by the IMF; and the 2017 conference on “Globalization, Development, and Economic and Financial Stability” organized by the Asian Development Bank Institute. Harley Du, Lucas Husted, Gerardo Sanz-Maldonado, Shaily Patel, and Rebecca Zhang provided superb research assistance at various stages of this project. The views expressed in this paper are solely the responsibility of the authors and should not be interpreted as reflecting the views of the National Bureau of Economic Research, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of Atlanta, or of anyone else associated with the Federal Reserve System.