. Impulse responses indicate that in crisis times, the origin of the shock plays an important role on the nature of the global …

sequence of positive supply shocks rather than being the outcome of a big negative wealth shock. We also show that the model …

components for a large data set comprising the U.S., the EU-27 area, and the respective rest of the world. Credit risk conditions …

data on monetary policy shock estimates for 29 economies obtained from more than 280 monetary models in the literature …. Consistent with the predictions from our hypothesis we find: Monetary policy shock estimates obtained from New Keynesian DSGE … contamination is more severe for economies that are more susceptible to financial spillovers in the data; and the shock estimates …

The financial crisis has highlighted the need for models that can identify counter-party risk exposures and shock …

significant and large economically. On average, global equity market valuations correct by about 20% in the month when a shock …