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The effects of U.S. monetary policy on Colombia and Panama (2002–2007)

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  • Cachanosky, Nicolas

Abstract

I study the economies of Colombia (floating exchange rate) and Panama (dollarized) to illustrate how the monetary policy of a large economy can export capital structure distortions to small open economies that follow different exchange rate regimes. The paper contributes to the literature on international business cycles in two ways. First, it adds to recent research that extends the Mises–Hayek business cycle theory to an international context. Second, most current research abstracts from effects on the production structures of emerging market economies when analyzing the transmission of monetary policy shocks. This paper seeks to fill this gap by studying structural effects of U.S. monetary policy on the economies of Colombia (floating exchange rate) and Panama (dollarized).

Suggested Citation

  • Cachanosky, Nicolas, 2014. "The effects of U.S. monetary policy on Colombia and Panama (2002–2007)," The Quarterly Review of Economics and Finance, Elsevier, vol. 54(3), pages 428-436.
  • Handle: RePEc:eee:quaeco:v:54:y:2014:i:3:p:428-436
    DOI: 10.1016/j.qref.2014.03.003
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Ciclos Internacionales: Asignación de Recursos
      by Nicolas Cachanosky in Punto de Vista Economico on 2014-10-21 08:01:46

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    Cited by:

    1. Nicolás Cachanosky & Andreas Hoffmann, 2016. "Monetary Policy, the Composition of GDP and Crisis Duration in Europe," Global Economic Review, Taylor & Francis Journals, vol. 45(2), pages 206-219, June.
    2. repec:eme:aaeczz:s1529-213420160000020002 is not listed on IDEAS

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