How does global risk impact the world economy? In taking up this question, we focus on the dollar’s role in the … global risk shocks in a Bayesian Proxy VAR model. They cause a synchronized contraction of global economic activity and … illustrate through counterfactuals that the dollar appreciation amplifies the adverse impact of global risk shocks outside of the …

; macroeconomic shock ; financial crisis management ; Swedish model …

portfolio flows. Second, however, the marginal response to a U.S. monetary policy shock is, on average, subdued if we focus on … value of net worth increases, the marginal responses by both investors would drop with a U.S. monetary policy shock …

exogenously. The contribution of this paper is (1) to use an identified shock component of the U.S. (shadow) Federal Funds rate as …