This paper examines the asymmetry in global spillovers from Fed policy across tightening versus easing episodes several … (ii) global supply chains, allowing us to match the asymmetry of spillovers across contractionary versus expansionary … spillovers during contractionary episodes under both conventional and unconventional monetary policy changes. Our results also …

examine spillovers across global markets. The novelty of this paper consists of simultaneously identifying China shocks with … China have material impacts on global equity markets, although spillovers are much smaller than those following shocks in …, spillovers from China can be significantly amplified in an environment of heightened global volatility, or when the shocks are …

global spillovers from a US monetary policy tightening, a drop in oil prices and a growth slowdown in China. The impulse … responses implied by ECB-Global are well in line with those generated by other global models, with international spillovers in …

This paper studies spillovers among US and European sovereign yields. We provide a new method based on absolute … magnitude restrictions of the impact matrix to identify the countries that were the main sources of spillovers. Despite the …

economy. Our empirical results suggest that these sectoral spillovers are both statistically significant and of economic … links between these sectors and the rest of the global value chain are severed, the spillovers diminish strongly and … spillovers and the prominent role played by hub sectors in the global economy. …

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 …

. We find that US rates are the main source of spillovers globally and are less exposed to foreign shocks. Foreign … spillovers to European rates were negligible only during the sovereign debt crisis and the introduction of more aggressive …