inference that feature varying level of trade-off between estimation precision and computational speed. Using monthly data for …

level clearly. A positive information shock which also induces increases in interest rate is perceived by private agents as …

We disentangle the effects of monetary policy announcements on real economic variables into an interest rate shock … component and a central bank information shock component. We identify both components using changes in interest rate futures and … that a contractionary interest rate shock appreciates the dollar, increases the excess bond premium, and leads to a decline …

monetary policy shock on credit risk is amplified when considering the feedback effect deriving from macroeconomic and equity …

six-variable system supports time variation in US monetary policy shock identification. In the sample-dominating first … stimulus, features the liquidity effect, and is complemented by a pure term spread shock. Absent the specific monetary policy …

A central question in applied research is to estimate the effect of an exogenous intervention or shock on an outcome …