This paper studies the role of sticky prices for the monetary transmission mechanism, using disaggregated industry …-level data from 205 US industries. There is substantial heterogeneity in the output responses of industries to monetary policy … economically large and statistically significant. The results suggest that sticky prices play an important role in the transmission …

output. With strong risk sharing, the response is attenuated, and output reverts to its initial level over the medium term … against persistent output contractions after tightening shocks. …

dollar shock, generalised impulse response function shocks and a global shock to risk aversion. Our results show that the way … depends crucially on the nature of the shock. This result is noteworthy given the apparent divergence in competitiveness …

equity prices during periods of accommodative monetary policy mainly reflected adjustments in the discount factor and …

economies. At the same time, there is significant heterogeneity across countries in the response of asset prices, and portfolio …

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 …

have stronger effects on output, consumption, and wages in the earlier sample. We try to account for this observation …

intermediation turns an otherwise diversifiable source of idiosyncratic economic uncertainty, the 'risk shock', into a systemic force …. - DSGE model ; Financial frictions ; Financial shocks ; Bayesian estimation ; Lending channel ; Funding channel …