Using a sample of 1154 European firms from 11 countries, we show that firm-levelexchange exposure for Eurozone and non-Eurozone … European firms has increased sincethe introduction of the euro, but this rise was smaller for Eurozone than non … Eurozone countries, so the advent of the euroappears to have been associated with a shift in exchange risk from systematic to …

particular, standard local projections identify responses that include an effect due to the persistence of the shock, while … projections and moving average representations. In particular, the inclusion of leads of the shock in local projections allows to … proyecciones locales estándar identifi can respuestas que incluyen un efecto debido a la persistencia del shock, mientras que las …

transmission mechanism in Slovakia. Subject to various sensitivity checks, we find that contractionary monetary policy shock has a … policy shock on Slovak prices is more powerful than that of the National Bank of Slovakia. Slovak central bank interest rate …

the Euro-zone. Moreover, the EMU creates conditions for economic and monetary stability all over Europe which allows for … steady growth and creation of workplaces. Common currency has enabled to avoid the shock caused by rapid fluctuations of the …

models showing that each shock which causes the exchange rate to move has a different price response, meaning that the …

mit den Interventionserfahrungen von Emerging Markets. Geldpolitik in Emerging Markets zeichnet sich oftmals durch eine …

einer Dominanz der Geldpolitik als Angebotsschock erklärt werden. Zu einem großen Teil bleibt die identifizierte …, output decreases in most subsectors after a restrictive monetary shock. The sectors of electrical and electronic equipment … be explained by the fact that monetary policy works mainly as supply shock in some subsectors. But the identified price …