Andrade, Philippe; Ferroni, Filippo; Melosi, Leonardo - 2023 - First draft (June 2022)
identification of monetary policy shocks when combined with widely used sign-restriction schemes. We then apply our methodology to … two empirical questions: the effects of monetary policy shocks in the US and the effects of sovereign bonds spreads shocks … EA governments bonds spreads, monetary policy quickly turns expansionary, corporate borrowing conditions worsen on impact …