NEW YORK, Jan. 12 (TNSrep) -- The Federal Reserve Bank of New York issued the following staff report (No. 1039) entitled "The Impact of U.S. Monetary Policy on Foreign Firms." The staff report was written by Julian di Giovanni and John Rogers. Here are excerpts: * * * Abstract This paper uses cross-country firm-level data to explore the impact of U.S. monetary policy shocks on firms' sales, investment, and employment. We estimate a sizeable impact of U.S. monetary policy on the average fore  more