of key macroeconomic variables to a monetary policy shock. We propose a datadriven approach that splits our panel of … countries into two disjoint groups according to the impact of the monetary policy shock on real house prices. Our results show …

We estimate a logit mixture vector autoregressive model describing monetary policy transmission in the euro area over …, this provides further evidence for a financial accelerator in the euro area. Finally, the detrimental effect of credit …

This paper studies the reaction of the mean and volatility of the euro-dollar exchange rate to statements of ECB … officials during the first years of EMU. We focus on statements on monetary policy and the (potential) strength of the euro. We …. In some cases there are effects of statements on the level of the euro-dollar rate. Efforts to talk up the euro have not …

policy shock leads to a persistent fall in international output, a drop in global inflation rates, a rise in international … shock to foreign real GDP growth. …

crisis within a structural VAR framework. An expansionary balance sheet shock stimulates bank lending, stabilizes financial …

of Euro area banks to the global financial crisis. We focus on their interest rate setting behavior in response to …

exposure of banks to the debt issued by the national government. Our results suggest that euro area crisis countries’ banks …

surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian … mechanism, but also about the differences between the euro area and the US, which are on average essentially small. -- Monetary …