the shock. In particular, we find that adverse shocks to Iranian oil output are neutralized in terms of their effects on … contrast, a negative shock to oil supply in Saudi Arabia leads to an immediate and permanent increase in oil prices, given that … supply shock has significant adverse effects for the global economy with real GDP falling in both advanced and emerging …

factors from trade-related spillovers, and identify the Covid-19 shock using GDP growth forecast revisions of the IMF in 2020Q …

world shows that the long-term impact of a China GDP shock on the typical Latin American economy has increased by three … times since mid-1990s. At the same time, the long-term impact of a US GDP shock has halved, while the transmission of shocks …

factor shocks: increased parameter heterogeneity reduces shock sensitivity. Allowing for regional parameter heterogeneity … heterogeneity. The regional model also exhibits less shock sensitivity …

economy. A positive credit shock, defined as a rise in the loan-to-deposit ratio, increases output, consumption, hours and … productivity, and reduces the spread between loan and deposit rates. The effects of the credit shock tend to be highly persistent …