no code implementations • 7 Jun 2023 • Santiago Camara
This paper shows that disregarding the information effects around the European Central Bank monetary policy decision announcements biases its international spillovers.
no code implementations • 20 Nov 2022 • Santiago Camara, Maximo Sangiacomo
In terms of policy implications, this greater amplification leads to managed exchange rate policy being more costly in the presence of an interest coverage constraint, given their greater interest rate sensitivity, compared to the standard collateral borrowing constraint.
no code implementations • 22 Sep 2022 • Santiago Camara, Sebastian Ramirez Venegas
This paper studies the transmission of US monetary policy shocks into Emerging Markets emphasizing the role of investment and financial heterogeneity.
no code implementations • 14 Mar 2022 • Santiago Camara
Motivated by these facts I construct a theoretical framework of heterogeneous firms subject to search frictions in the market for foreign suppliers.
no code implementations • 25 Feb 2022 • Santiago Camara
Evidence suggests the presence of significant adjustment cost in firms' foreign supplier linkages and strong complementarities between imported inputs and export performance, particularly of high-quality products.
no code implementations • 9 Jan 2022 • Santiago Camara
Lastly, I study the design of optimal policy regimes and find that households have opposing preferences a over monetary and fiscal rules.
no code implementations • 16 Nov 2021 • Santiago Camara
On the one hand, a US tightening caused by a pure US monetary policy shock leads to an economic recession, an exchange rate depreciation and tighter financial conditions.
no code implementations • 11 Nov 2021 • Yong Cai, Santiago Camara, Nicholas Capel
This paper introduces a transparent framework to identify the informational content of FOMC announcements.
no code implementations • 2 Aug 2021 • Santiago Camara
This paper presents evidence of an informational effect in changes of the federal funds rate around FOMC announcements by exploiting exchange rate variations for a panel of emerging economies.
