NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Global Dimensions of U.S. Monetary Policy

Maurice Obstfeld

NBER Working Paper No. 26039
Issued in July 2019

---- Acknowledgments ----

This paper was prepared for the Federal Reserve conference on "Monetary Policy Strategy, Tools, and Communication Practices," held at the Federal Reserve Bank of Chicago on June 4-5, 2019. I thank Jianlin Wang for outstanding research assistance, Gian Maria Milesi-Ferretti for helpful conversation, and Edward Nelson for suggestions. Comments by Kristin Forbes and other conference participants also improved the paper. For generous help with data, I acknowledge Oya Celasun, Weicheng Lian, Ava Hong, and Mahnaz Hemmati of the IMF and Anna Zabai of the BIS. All errors are mine. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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