Download or read book Comments on 'The Global Impact of Risk-Off Shocks' written by Piti Disyatat and published by . This book was released on 2019 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, Caballero and Kamber study how monetary policy frameworks influence the impact of risk-off shocks for a broad set of advanced market economies (AEs) and emerging market economies (EMEs). It is a very interesting and thought provoking paper. The key propositions of the paper are: (i) risk-off shocks have become more benign post-Great Financial Crisis for EMEs; (ii) this is attributable to unconventional US policies (so-called policy-put frameworks); and (iii) stronger country fundamentals imply more resilience to risk-off shocks. The overall conclusion is that policy easing in the United States, particularly unconventional ones, has been good for all. This is a good story. But is it too good to be true?Full Publication: "http://ssrn.com/abstract=3383273" Asia-Pacific Fixed Income Markets: Evolving Structure, Participation and Pricing.