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Monetary Policy Shocks in a Two-Sector Open Economy : An Empirical Study

Llaudes, Ricardo - 2007

This paper studies the effects and the transmission mechanism of unexpected monetary policy shocks in an open economy setting within the context of a VAR frame-work. It considers an economy with two sectors, a tradable sector and a non-tradable sector. For a given country, economic sectors are...

Persistent link: https://www.econbiz.de/10012776366

Business Cycles, Monetary Transmission and Shocks to Financial Stability : Empirical Evidence from a New Set of Danish Quarterly National Accounts 1948-2010

Abildgren, Kim - 2012

a significant and long-lasting negative impact on real GDP following an exogenous shock to the banking sector's write …

Persistent link: https://www.econbiz.de/10013102102

Monetary Policy, Asset Prices and Consumption in China

Koivu, Tuuli - 2010

This paper studies the wealth channel in China. Using the structural vector autoregression method, we find that a loosening of China's monetary policy indeed leads to higher asset prices, which in turn are linked to household consumption. However, the importance of the wealth channel as a part...

Persistent link: https://www.econbiz.de/10013138816

Financial Globalisation, Monetary Policy Spillovers and Macro-Modelling : Tales from 1001 Shocks

Georgiadis, Georgios - 2017

data on monetary policy shock estimates for 29 economies obtained from more than 280 monetary models in the literature …. Consistent with the predictions from our hypothesis we find: Monetary policy shock estimates obtained from New Keynesian DSGE … contamination is more severe for economies that are more susceptible to financial spillovers in the data; and the shock estimates …

Persistent link: https://www.econbiz.de/10012953383

A Non-Standard Monetary Policy Shock : The ECB’s 3-year LTROs and the Shift in Credit Supply

Darracq Pariès, Matthieu - 2013

The identification of non-standard monetary policy shocks is a key challenge for econometricians, not least as these measures are somewhat unprecedented in modern central banking history and as the instruments vary widely across the various non-standard measures. This paper focuses on the 3-year...

Persistent link: https://www.econbiz.de/10013088278

Risk Sharing and Monetary Policy Transmission

Hauptmeier, Sebastian; Holm-Hadulla, Fédéric; … - 2022

Using regionally disaggregated data on economic activity, we show that risk sharing plays a key role in shaping the real effects of monetary policy. With weak risk sharing, monetary policy shocks trigger a strong and durable response in output. With strong risk sharing, the response is...

Persistent link: https://www.econbiz.de/10014242298

Not All Shocks are Created Equal : Assessing Heterogeneity in the Bank Lending Channel

Blattner, Laura; Alcoforado Farinha, Maria Luísa; … - 2021

easing (QE). We study how lending responds to each shock using detailed bank, firm, and household data from Portugal, a …

Persistent link: https://www.econbiz.de/10013324101

Responses to Monetary Policy Shocks in the East and West of Europe : A Comparison

Jarocinski, Marek - 2009

This paper compares impulse responses to monetary policy shocks in the euro area countries before the EMU and in the New Member States (NMS) from central-eastern Europe. We mitigate the small sample problem, which is especially acute for the NMS, by using a Bayesian estimation that combines...

Persistent link: https://www.econbiz.de/10012765781

Monetary Policy Shocks in the Euro Area and Global Liquidity Spillovers

Sousa, João; Zaghini, Andrea - 2021

aggregate. The impulse responses show that a positive shock to foreign liquidity leads for the euro area to a permanent increase …

Persistent link: https://www.econbiz.de/10013319486

Global Impacts of Us Monetary Policy Uncertainty Shocks

Lastauskas, Povilas; Minh, Anh - 2021

We build a new empirical model to estimate the global impact of an increase in the volatility of US monetary policy shocks. Specifically, we admit time-varying variances of local structural shocks from a stochastic volatility specification. By allowing for rich dynamic interaction between the...

Persistent link: https://www.econbiz.de/10013243822