find that a contractionary US monetary policy shock leads to a persistent fall in international output, a drop in global … negative shock to foreign real GDP growth. …

such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle … preferred model, almost 30 percent of the maximum effect of a shock still remains after ten years. …

such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle … preferred model, almost 30 percent of the maximum effect of a shock still remains after ten years. …

framework, grounded in relevant institutional elements, allows us to quantify the policy effects on output and prices. We find …

This paper investigates the nature of the output-employment relationship by using the Turkish quarterly data for the … period from 1988 to 2008. Even if we fail to find a long-run relationship between aggregate output and total employment …, there are long-run relationships for the aggregate output with non-agricultural employment and sectoral employment levels …

This paper has adopted a Bayesian FAVAR approach to examine the monetary transmission mechanism in North Macedonia. The … have been evaluated. Our findings show that monetary tightening, causes a fall in output, inflation rate, employment, bank … lending, the stock of government securities held by banks, and equity prices. On the other hand, it increases shortterm money …

(FAVAR) approach. The results indicate that when examining the effects of oil price shocks, it is important to account for …