monetary policy can be non-implementable in the New Keynesian model, while constant-debt feasible paths under tax policy are …

that firms' stock market valuations and employment levels respond more to monetary policy announcements the higher the … intensity and low profitability. There are clear distributional consequences of monetary policy. We rationalize the evidence …

System monetary policy in a unified and methodologically consistent framework. It identifies pure monetary policy shocks by … hierarchy in the global spillovers from ECB and Federal Reserve monetary policy: while the spillovers to consumer prices are … relatively small in both directions, Federal Reserve monetary policy shocks have a larger impact on euro area financial markets …

sector might affect the transmission mechanism of monetary policy in the economy. To test for this, we build an otherwise … monetary policy, and vice versa. The empirical estimations of the paper also support the theoretical findings of the model, as …The significant role of government consumption in affecting economic conditions raises the necessity for monetary …