contemporaneously to output and inflationary pressures. Inflation is mostly driven by interest rate shock over the medium to long term …, pointing to an impact of monetary policy. In the short term, however, exchange rate shock has relatively larger influence on …

positive policy rate shock positively for all periods and have a hump shape for government debt security yields as well as for … all interest rates to the policy shock increase; (iii) the responses to the policy shock of credit interest rates with …

; (iii) network-based accelerator - the network structure may propagate the initial shock possibly resulting in an avalanche …

allow for a standard nominal interest rate shock and an inflation target shock. In response to the highly persistent … inflation target shock we largely find evidence of a Neo-Fisher effect: the nominal interest rate co-moves positively with … expectations do not adjust immediately to the target shock …

result in large welfare losses under symmetric and correlated shock …

prior distribution of structural parameters and shock processes are determined according to the literature. Then, we … consistent with theoretical framework of the new Keynesian synthesis. Besides, the historical shock decompositions of endogenous … monetary policy increases the effects of monetary policy shock on inflation while its impact on output gap and interest rate …