---
title: A Model of U.S. Monetary Policy and the Global Financial Cycle
url: https://www.ml-quant.com/papers/repec/nbr-nberwo-35902/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-10-30
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: RePEc:nbr:nberwo:35902
source_url: https://econpapers.repec.org/RePEc:nbr:nberwo:35902
featured: 2026-10-30
citations: unknown
topic: Macro-Finance & Rates
---


# A Model of U.S. Monetary Policy and the Global Financial Cycle

A general equilibrium model shows US monetary tightening erodes currency-mismatched arbitrageurs' wealth, raising global risk premia and generating spillovers to international asset prices.

- Source: https://econpapers.repec.org/RePEc:nbr:nberwo:35902
- Identifier: RePEc:nbr:nberwo:35902
- Released: 2026-10-26
- First featured: Quant Letter No. 137 (2026-10-30): https://www.ml-quant.com/issues/2026-10-30/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Macro-Finance & Rates
- Authors: Rohan Kekre, Moritz Lenel

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