near-term using an event study of inflation around global recessions and a factor-augmented vector auto-regression (FAVAR …) model. We report three main results. First, the decline in global inflation during the 2020 global recession was the most … muted and shortest-lived of any of the five global recessions over the past 50 years and the increase in inflation since May …

across countries through risk variables, spurring a literature on the "global financial cycle." This paper studies how …Since the global financial crisis, there has been renewed interest in understanding how monetary policy shocks transmit … (conventional and unconventional) monetary policy shocks affect risk and uncertainty in three large economies: the US, euro area …

During the globalization process, each country tries to have monetary stability, macro economic discipline, an …

FAVAR framework is applied to derive structural shocks on a worldwide level and their impact on other global and also …We analyze the importance of global shocks for the global economy and national policy makers. More specifically, we … investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether …

We constructed a new index of global uncertainty using the first principal component of the stock market volatility for … the largest 15 economies. We evaluate the impact of global uncertainty on the global economy using the new global database … from Global Economic Indicators (DGEI), Federal Reserve Bank of Dallas. Global uncertainty shocks are less frequent than …