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We study the transmission channels through which shocks affect the global economy and the crosscountry comovement of real economic activity. For this purpose, we collect detailed data on international trade and financial linkages as well as domestic macro and financial variables for a large set...
Persistent link: https://www.econbiz.de/10012705047
With banks' business model changing from "originate and hold" to "originate, repackage, and sell", our paper examines whether a trading channel exists besides capital and lending channels, and whether this channel has weakened the effectiveness of monetary policy on the banks' capital and...
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intensity of this exposure depends on the transmission channel, type of external shock, specialization of each country and … domestic public policies. All the countries of the sample are at least exposed to one international shock. 13 countries are … exposed to real GDP OECD per capita shock, 10 countries to harmonized inflation in OECD countries. Of 7 countries that export …
Persistent link: https://www.econbiz.de/10012963199
level to a temporary risk premium shock are larger and more persistent when the ZLB is binding. Our theoretical discussion …
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cost channel theory. Taken together, the results of both panel data and time series analyses imply that the ECB’s low …
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