Wischnewsky, Arina; Neuenkirch, Matthias - 2018
In this paper, we provide evidence for a risk-taking channel of monetary policy transmission in the euro area that … 2003Q1 - 2017Q3 and includes, in addition to the standard variables for real GDP growth, inflation, and the monetary policy … area as a whole, we find for conventional monetary policy shocks that a portfolio reallocation effect towards riskier …