dynamics of oil price volatility by examining interactions between oil market and exchange rate in selected MENA countries …) to examine the presence of volatility spillover between oil prices and exchange rates return series. The econometric … rates, and ii) there is significant evidence of volatility spillovers from oil markets to exchange rate markets in the …

For emerging economies, borrowing abroad is a double-edged sword: it can buffer against adverse economic shocks and … smooth their domestic consumption; however, it can also amplify volatility in consumption, depending on the currency in which … external debt portfolios, exchange rate cyclicality, and volatility in consumption of low- and middle-income countries. Since …

For the academic audience, this paper presents the outcome of a well-identified, large change in the monetary policy … policymakers, it presents a cautionary tale of the dismal effects of ignoring basic macroeconomics. The Turkish monetary policy …

of Taylor rule deviations under alternative monetary policy frameworks. The analysis is conducted using monthly data from … targeting tends to generate a higher degree of credibility for the monetary authorities thereby reducing deviations of the …

How damaging are uncertainty shocks during extreme events such as the great recession and the Covid-19 outbreak? Can … monetary policy limit output losses in such situations? We use a nonlinear VAR framework to document the large response of real … activity to a financial uncertainty shock during the great recession. We replicate this evidence with an estimated DSGE …

This paper revisits the well-known VAR evidence on the real effects of uncertainty shocks by Bloom (Econometrica 2009 … an uncertainty shock. We find a significantly stronger response of real activity in recessions. Counterfactual … simulations point to a greater effectiveness of systematic monetary policy in stabilizing real activity in expansions …

. The MP links significantly amplified the impact of these shocks on the rest of the world, which had a much greater impact …? What role did MP and trade links play in propagating economic shocks across countries? I resolve the “Multinationals … interactions between MP and trade. According to the model with MP, supply-side productivity shocks contributed to the collapse of …