welfare. The presence of a CBDC amplifies the international spillovers of shocks to a significant extent, thereby increasing …

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 …

This paper reviews the empirical literature on international spillovers and contagion. Theoretical models of spillover …

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

-called “destination-based border-adjusted cash-flow tax” (DBCFT). The literature on the economic implications and spillovers of such a … implications as well as its global spillovers using a fully structural global multi-country model. Our results suggest that the … generated by the border adjusted tax; and the pricing system used by exporters. Moreover, global spillovers will depend on how …

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 …

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 …