understanding of currency carry trade returns, and invalidates, for example, explanations invoking return skewness and crash risk …

understanding of currency carry trade returns, and invalidates, for example, explanations invoking return skewness and crash risk …

understanding of currency carry trade returns, and invalidates, for example, explanations invoking return skewness and crash risk …

understanding of currency carry trade returns, and invalidates, for example, explanations invoking return skewness and crash risk …

We study how monetary policy and risk shocks affect asset prices in the US, the euro area, and Japan, differentiating …. Communication shocks from the US spill over to risk in the euro area and vice versa, but traditional US shocks show no spillover … effects to risk. Both monetary policy and communication shocks spill over to stocks, with euro area information spillovers …

such as interest rates, (expected) inflation, output growth and dividend payouts. We also view risk aversion, and …