cointegration framework to examine whether Chinese interest rates are driven by the Fed's policy. In a second step, we estimate a … exert relatively autonomous monetary policy. -- Chinese monetary policy ; monetary independence ; cointegration …

unit root and cointegration tests are criticized for their low power to detect rational bubbles that periodically collapse …

We estimate a panel VAR model for the euro area to quantitatively assess how the uneven recourse of national banking … systems in the euro area to the ECB's unconventional refinancing operations that led to the accumulation of large TARGET2 … evolution of aggregate economic activity in euro area member countries in the period 2008-2014. Our results suggest that the …