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The internationalisation of monetary policy

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  • Cœuré, Benoît

Abstract

The case for formal central bank cooperation remains limited, and practical considerations make its implementation difficult. That being said, central banks need to be engaged in a constant dialogue so as to remain ready for rapid coordinated action in exceptional circumstances. Also, they should strive to strengthen the global financial safety nets within their monetary policy mandates so that they can better address global or regional liquidity crises, thereby limiting the case for self-insurance.

Suggested Citation

  • Cœuré, Benoît, 2016. "The internationalisation of monetary policy," Journal of International Money and Finance, Elsevier, vol. 67(C), pages 8-12.
    • Handle: RePEc:eee:jimfin:v:67:y:2016:i:c:p:8-12
    DOI: 10.1016/j.jimonfin.2015.06.007
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    References listed on IDEAS

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    Cited by:

    1. Liu, Zheng & Spiegel, Mark M. & Tai, Andrew, 2017. "Measuring the effects of dollar appreciation on Asia: A FAVAR approach," Journal of International Money and Finance, Elsevier, vol. 74(C), pages 353-370.
    2. Ca' Zorzi, Michele & Dedola, Luca & Georgiadis, Georgios & Jarociński, Marek & Stracca, Livio & Strasser, Georg, 2020. "Monetary policy and its transmission in a globalised world," Working Paper Series 2407, European Central Bank.
    3. Antonakakis, Nikolaos & Gabauer, David & Gupta, Rangan, 2019. "International monetary policy spillovers: Evidence from a time-varying parameter vector autoregression," International Review of Financial Analysis, Elsevier, vol. 65(C).

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    More about this item

    Keywords

    International monetary policy coordination; spillovers;

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance

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