Georgiadis, Georgios; Jančoková, Martina - 2017
Financial globalisation and spillovers have gained immense prominence over the last two decades. Yet, powerful cross … contamination is more severe for economies that are more susceptible to financial spillovers in the data; and the shock estimates … imply implausibly similar estimates of the global output spillovers from monetary policy in the US and the euro area. None …