We build a new empirical model to estimate the global impact of an increase in the volatility of US monetary policy …. By allowing for rich dynamic interaction between the endogenous variables and time-varying volatility in the global … declines in output, inflation, and the interest rate. Moreover, we document strong global impacts, making the world move in a …

The paper shows that US monetary policy has been an important determinant of global equity markets. Analysing 50 equity … the degree of global integration of countries - and not a country's bilateral integration with the United States - is a …

some reversal since the beginning of the global financial crisis. The exchange rate shock also has a time-varying effect on …-2012) in the Polish economy. The empirical findings show that: (1) output appears more responsive to an interest rate shock at … the beginning of our sample. Since 2000, absorbing this shock has become less costly in terms of output, notwithstanding …

dollar shock, generalised impulse response function shocks and a global shock to risk aversion. Our results show that the way …This paper provides evidence on whether the creation of the euro has changed the way global turbulences affect euro … area and other economies. Specifically, it considers the impact of global shocks on the competitiveness of individual euro …

Global monetary conditions have often been cited as a driving factor of commodity prices. This paper investigates the … overwhelmingly large. This finding is also confirmed under different identification strategies for the monetary policy shock …

both equities and bonds. Yet such a monetary policy easing shock also induces a shift in portfolio composition out of …