Monetary Policy and the Short-Rate Disconnect in Emerging Economies
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We document that emerging market central banks adhere to Taylor-type rules and lower their policy rates when economic activity slows down, including as a response to U.S. monetary policy tightening. This suggests a countercyclical monetary policy stance. However, in contrast to advanced economies,
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美国国家经济研究局创建时间：
2022-09-01
