We estimate the effects of a negative asymmetric demand shock on the real exchange rate for the euro area vis-à-vis the … output, confirming its shock-absorbing capacity before and during the ZLB episode. The stabilizing role of the exchange rate …

response to an asymmetric negative demand shock in a zero lower bound (ZLB) scenario and exacerbates the adverse macroeconomic … effects. However, when monetary policy is able to accommodate the adverse effects of the negative demand shock via … channels empirically. We estimate the effect of a negative asymmetric demand shock on the real exchange rate and inflation …

the price level to a temporary risk shock are permanent. Our theoretical discussion shows that adopting a credible long …

: aggregate supply shocks, aggregate spending shocks, and monetary shocks. Applying a structural VAR to data for the eurozone and …

price shock studies, the aim of this paper is to test the impacts of symmetric oil price shocks on government expenditure …-real exchange rate nexus and ultimately, to check the conformity of symmetric oil price shock findings to those prevailing in …

macroeconomic variables in response to the domestic demand shock, the foreign demand and financial shocks and the terms …-of-trade shock at the ZLB. This effects become severe in response to highly persistent shocks which leads to stronger reaction of …