Fanelli, Luca; Marsi, Antonio - 2021
monetary shock and a central bank 'information shock'. In this paper we show that monetary policy in the euro area after 2008 … through a proxy-SVAR methodology which, using HF surprises of the euro area risk-free yield curve, stock prices and sovereign … the Global Financial Crisis. It reflects ECB's attempt to offset self-fulling expectations of default in the euro area …