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What shapes spillovers from monetary policy shocks in the United States to emerging market economies?

Andres-Escayola, Erik; McQuade, Peter; Schroeder, Christofer - 2024

Monetary policy decisions by the Federal Reserve System in the US are widely recognised to have spillover effects on the rest of the world. In this paper, we focus on the asymmetric effects of US monetary policy shocks on macro-financial outcomes in emerging market economies (EMEs). We shed...

Persistent link: https://www.econbiz.de/10015199446

US-Euro Area Term Structure Spillovers, Implications for Central Banks

Nyholm, Ken - 2017

Spillovers between the US and euro area term structures of interest rates are examined. Implications for monetary … variance decompositions, following Diebold and Yilmaz (2009), it is found that transatlantic spillovers have increased by …

Persistent link: https://www.econbiz.de/10012963922

Subsidising Car Purchases in the Euro Area : Any Spill-Over on Production?

Paredes, Joan - 2017

that explores the effects of these policies on domestic and foreign production to disentangle the potential spill-overs …

Persistent link: https://www.econbiz.de/10012949115

What Drives Euro Area Financial Market Developments? The Role of US Spillovers and Global Risk

Brandt, Lennart; Saint-Guilhem, Arthur; Schröder, … - 2021

we allow for cross-Atlantic spillovers while also accounting for the unique role of the US in the global financial system …. Our results underline the importance of US spillovers and shifts in global risk sentiment for understanding the dynamics …

Persistent link: https://www.econbiz.de/10013225754

Spillovers from the ECB's Non-Standard Monetary Policy Measures on South-Eastern Europe

Moder, Isabella - 2018

responses in the model output, suggesting that exchange rates did not act as buffers for spillovers of euro area non …

Persistent link: https://www.econbiz.de/10012933044

Do House Price Developments Spill Over Across Euro Area Countries? Evidence from a Global VAR

Vansteenkiste, Isabel; Hiebert, Paul - 2021

This paper empirically assesses the prospects for house price spillovers in the euro area, where co-movement in house …) over the period 1989-2007. The results suggest limited house price spillovers in the euro area, with evidence of some … this aggregate development are rather heterogeneous house price spillovers at the country level, with a strong importance …

Persistent link: https://www.econbiz.de/10013316405

Digitalisation, institutions and governance, and growth: Mechanisms and evidence

Labhard, Vincent; Lehtimäki, Jonne - 2022

Digitalisation may be viewed as a sequence of supply and technology shocks affecting the economy through productivity and output, employment and labour markets, competition and market structure. This paper focuses on the effects of digitalisation on economic growth, and how those effects may be...

Persistent link: https://www.econbiz.de/10014278451

What drives export market shares? It depends! An empirical analysis using Bayesian Model Averaging

Osbat, Chiara; Benkovskis, Konstantins; Bluhm, Benjamin; … - 2017

What drives external performance of countries? This is a recurring question in academia and policy. The factors underlying export growth are receiving great attention, as countries struggle to grow out of the crisis by increasing exports and as protectionist discourses take foot again. Despite...

Persistent link: https://www.econbiz.de/10011804405

Insolvency frameworks and private debt: An empirical investigation

Consolo, Agostino; Malfa, Federica; Pierluigi, Beatrice - 2018

This paper presents new evidence on the importance of insolvency frameworks for private sector debt deleveraging and for the resolution of non-performing loans (NPL). We construct an aggregate insolvency framework index (IFI), which is used as explanatory variable in the empirical analysis. By...

Persistent link: https://www.econbiz.de/10012142033

A macroeconomic vulnerability model for the euro area

Sondermann, David; Zorell, Nico - 2019

Macroeconomic imbalances increase the vulnerability of an economy to adverse shocks, which in turn can lead to crises with severe economic and social costs. We propose an early warning model that predicts such crises. We identify a set of macroeconomic indicators capturing domestic and external...

Persistent link: https://www.econbiz.de/10012142150