This paper studies the transmission of ECB monetary policy, both at the aggregate euro area and the country level. We … estimate a VAR model for the euro area in which monetary policy shocks are identified using an external instrument that … identified monetary policy shock is then put into country-specific local projections in order to derive country-specific impulse …

of key macroeconomic variables to a monetary policy shock. We propose a datadriven approach that splits our panel of … countries into two disjoint groups according to the impact of the monetary policy shock on real house prices. Our results show …

responses of key macroeconomic variables to a monetary policy shock. We split our sample of countries into two disjoint groups … according to the impact of the monetary policy shock on real house prices. Our results suggest that in countries with a more …

We estimate a logit mixture vector autoregressive model describing monetary policy transmission in the euro area over …, this provides further evidence for a financial accelerator in the euro area. Finally, the detrimental effect of credit …

We estimate a logit mixture vector autoregressive model describing monetary policy transmission in the euro area over …, this provides further evidence for a financial accelerator in the euro area. Finally, the detrimental effect of credit …

We estimate a logit mixture vector autoregressive model describing monetary policy transmission in the euro area over … the crisis state, this provides further evidence for a financial accelerator in the euro area. Finally, the detrimental …