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...

The full-scale invasion and the subsequent introduction of Martial Law in Ukraine imposed substantial limitations on data gathering and processing by state statistical agencies. The lack of timely data severely restricts policy making and makes it difficult to assess the scale and speed of...