Sign-In
Cart
International Finance Discussion Papers: How Do Fomc Actions and U.S. Macroeconomic Data Announcements Move Brazilian Sovereign Yield Spreads and Stoc
Paperback
Publisher Price: $17.75
Please select the version of book you would like to purchase.
ISBN10: 1288727798
ISBN13: 9781288727797
Publisher: Bibliogov
Published: Feb 8 2013
Pages: 56
Weight: 0.26
Height: 0.12 Width: 7.44 Depth: 9.69
Language: English
ISBN13: 9781288727797
Publisher: Bibliogov
Published: Feb 8 2013
Pages: 56
Weight: 0.26
Height: 0.12 Width: 7.44 Depth: 9.69
Language: English
This paper provides a robust structural identification of the effects of U.S. interest rates on an emerging economy's asset values. Using newly available intraday data, we investigate how surprises associated with U.S. macro data and FOMC announcements move the yield spread on a benchmark Brazilian government dollar-denominated bond and the Brazilian broad stock price index. Our study covers the period February 1999 to April 2005. We find that FOMC announcements that lead to an increase in U.S. interest rates are associated with a systematic increase in Brazil's bond spread and a systematic decline in the stock price index. Several U.S. macro data surprises, including for nonfarm payrolls and the CPI, prompt an increase in the Brazilian bond yield spread and a fall in Brazilian share prices. These combined findings suggest that, for Brazil during this period, the financial risks of higher U.S. interest rates in response to positive news about the U.S. economy dominated any benefits through trade or other channels in the determination of Brazilian asset valuations.
23 different editions
Also available
International Finance Discussion Papers: International Coordination of Macroeconomic Policies: Still Alive in the New Millennium
Meyer, Laurence H.
Paperback
$17.44
International Finance Discussion Papers: Exchange Rate Policy and Sovereign Bond Spreads in Developing Countries
Jahjah, Samir
Paperback
$19.69
International Finance Discussion Papers: Tips from Tips: The Informational Content of Treasury Inflation-Protected Security Prices
D'Amico, Stefania
Paperback
$16.86
International Finance Discussion Papers: Estimating the Parameters of a Small Open Economy Dsge Model: Identifiability and Inferential Validity
Beltran, Daniel O.
Draper, David
Paperback
$14.96
International Finance Discussion Papers: The Risks and Implications of External Financial Shocks: Lessons from Mexico
Truman, Edwin M.
Paperback
$14.96
International Finance Discussion Papers: Quantitative Easing and Bank Lending: Evidence From Japan
Bowman, David
Paperback
$17.44
International Finance Discussion Papers: Money and Inflation: Some Critical Issues
Nelson, Edward
McCallum, Bennett T.
Paperback
$19.94
International Finance Discussion Papers: The Management of Financial Risks at German Nonfinancial Firms: The Case of Metallgesellschaft
Frankel, Allen B.
Palmer, David E.
Paperback
$19.69
International Finance Discussion Papers: Capital Controls During Financial Crises: The Case of Malaysia and Thailand
Edison, Hali J.
Reinhart, Carmen M.
Paperback
$19.69
International Finance Discussion Papers: A Bivariate Model of Fed and Ecb Main Policy Rates
Scotti, Chiara
Paperback
$19.69
International Finance Discussion Papers: On the Effect of the Internet on International Trade
Freund, Caroline
Weinhold, Diana
Paperback
$14.96
International Finance Discussion Papers: Growth-Led Exports: Is Variety the Spice of Trade
Gagnon, Joseph E.
Paperback
$14.96
International Finance Discussion Papers: International Risk-Sharing and the Transmission of Productivity Shocks
Corsetti, Giancarlo
Paperback
$15.91
International Finance Discussion Papers: Regional Patterns in the Law of One Price: The Roles of Geography vs. Currencies
Engel, Charles M.
Rogers, John H.
Paperback
$15.91
International Finance Discussion Papers: Evaluating Correlation Breakdowns During Periods of Market Volatility
English, William B.
Loretan, Mico
Paperback
$19.69
International Finance Discussion Papers: Using Measures of Expectations to Identify the Effects of a Monetary Policy Shock
Brunner, Allan D.
Paperback
$14.96
Also in
General Political Science
Solidarity: The Past, Present, and Future of a World-Changing Idea
Taylor, Astra
Hunt-Hendrix, Leah
Hardcover
$14.99
Capitalism and the Camera: Essays on Photography and Extraction
James, Daniel
Coleman, Kevin
Paperback
$28.45
The Craftivist Collective Handbook: Projects, Stories and Methods for Your Gentle Protests
Corbett, Sarah P.
Hardcover
$19.99
Guerrilleros and Neighbours in Arms: Identities & Cultures of Anti-Fascist Resistance in Spain
Marco
Paperback
From $24.99
Battling the Big Lie: How Fox, Facebook, and the Maga Media Are Destroying America
Pfeiffer, Dan
Hardcover
$10.99
Urban Revolutions: Urbanisation and (Neo-)Colonialism in Transatlantic Context
Kipfer, Stefan
Paperback
$43.50
Nonstate Warfare: The Military Methods of Guerillas, Warlords, and Militias
Biddle, Stephen
Hardcover
$67.50
By the Light of Burning Dreams: The Triumphs and Tragedies of the Second American Revolution
Talbot, David
Talbot, Margaret
Hardcover
$27.54
Requiem for the American Dream: The 10 Principles of Concentration of Wealth & Power
Chomsky, Noam
Paperback
From $12.99
An Enemy Such as This: Larry Casuse and the Fight for Native Liberation in One Family on Two Continents Over Three Centuries
Correia, David
Hardcover
From $12.99
Turning the Tide: U.S. Intervention in Central America and the Struggle for Peace
Chomsky, Noam
Paperback
From $11.99
Democracy Incorporated: Managed Democracy and the Specter of Inverted Totalitarianism
Wolin, Sheldon S.
Paperback
$11.99
The Persuaders: At the Front Lines of the Fight for Hearts, Minds, and Democracy
Giridharadas, Anand
Hardcover
$10.99
Grassroots Rising: A Call to Action on Climate, Farming, Food, and a Green New Deal
Cummins, Ronnie
Paperback
From $10.99
Everyday Life and Politics in Nineteenth Century Mexico: Men, Women, and War
Wasserman, Mark
Paperback
$44.93
Broken News: Why the Media Rage Machine Divides America and How to Fight Back
Stirewalt, Chris
Paperback
From $9.99
With Liberty and Justice for Some: How the Law Is Used to Destroy Equality and Protect the Powerful
Greenwald, Glenn
Hardcover
$35.14
Doing History from the Bottom Up: On E.P. Thompson, Howard Zinn, and Rebuilding the Labor Movement from Below
Lynd, Staughton
Paperback
$18.95
Towards Collective Liberation: Anti-Racist Organizing, Feminist Praxis, and Movement Building Strategy
Crass, Chris
Paperback
From $9.99
China Wakes: The Struggle for the Soul of a Rising Power
Wudunn, Sheryl
Kristof, Nicholas D.
Paperback
From $8.99
The Clash of Globalizations: Neo-Liberalism, the Third Way and Anti-Globalization
Kiely, Ray
Paperback
$30.00
Regime Change: Inside the Imperial Presidency of Donald Trump
Haberman, Maggie
Swan, Jonathan
Hardcover
$30.60
The College Scam: How America's Universities Are Bankrupting and Brainwashing Away the Future of America's Youth
Kirk, Charlie
Hardcover
$35.99
Separation of Church and Hate: A Sane Person's Guide to Taking Back the Bible from Fundamentalists, Fascists, and Flock-Fleecing Frauds
Fugelsang, John
Hardcover
From $17.99
The U.S. Constitution: A Comprehensive and Annotated Guide for the Modern Reader
Murray, Melissa
Hardcover
$27.00
American Struggle: Democracy, Dissent, and the Pursuit of a More Perfect Union: An Anthology
Meacham, Jon
Hardcover
$34.20
The Hundred Years' War on Palestine: A History of Settler Colonialism and Resistance, 1917-2017
Khalidi, Rashid
Paperback
From $11.99
The Crooked Places Made Straight: Reflections on the Moral Meaning of America
Warnock, Raphael G.
Hardcover
$27.00
Into the Wood Chipper: A Whistleblower's Account of How the Trump Administration Shredded Usaid
Enrich, Nicholas
Hardcover
From $19.99
The Elijah Mandate: A Call to Courageous Faith in a Hostile World
Tsarfati, Amir
Piflaks, Tolik
Paperback
$18.04
The Invisible Coup: How American Elites and Foreign Powers Use Immigration as a Weapon
Schweizer, Peter
Hardcover
$30.88
Ordinary People, Extraordinary Times: How to Reclaim Your Power, Fight for Freedom, and Reimagine Democracy
Perryman, Skye
Paperback
$16.14
Live Laugh Love: The Secret History of White Christian Women and the World They Made
Kobes Du Mez, Kristin
Hardcover
$30.39
The Lost Founder: James Wilson and the Forgotten Fight for a People's Constitution
Wegman, Jesse
Hardcover
$27.00
Last Branch Standing: A Potentially Surprising, Occasionally Witty Journey Inside Today's Supreme Court
Isgur, Sarah
Hardcover
$28.80
If Anyone Builds It, Everyone Dies: Why Superhuman AI Would Kill Us All
Yudkowsky, Eliezer
Soares, Nate
Hardcover
From $19.99
The Jakarta Method: Washington's Anticommunist Crusade and the Mass Murder Program That Shaped Our World
Bevins, Vincent
Paperback
$19.79
There Is No Place for Us: Working and Homeless in America (Pulitzer Prize Winner)
Goldstone, Brian
Paperback
$18.00
American Scoundrel: Roy Cohn's Dark Journey from Joe McCarthy to Donald Trump
Bird, Kai
Goldmark, Susan
Hardcover
$28.80
Country of Lords: Neo-Aristocrats, Social Darwinists, Tech Utopians, and the Long Fight Against Equality in America
Phillips-Fein, Kim
Hardcover
$31.50
There Is No Place for Us: Working and Homeless in America (Pulitzer Prize Winner)
Goldstone, Brian
Hardcover
$28.50
Fear and Fury: The Reagan Eighties, the Bernie Goetz Shootings, and the Rebirth of White Rage
Thompson, Heather Ann
Hardcover
From $19.99
The Origins of Totalitarianism: With a New Introduction by Anne Applebaum
Applebaum, Anne
Arendt, Hannah
Paperback
$19.79
Alito: The Justice Who Reshaped the Supreme Court and Restored the Constitution
Hemingway, Mollie
Hardcover
$30.40