results suggest that financial shocks were key drivers of the 2008-09 Great Recession, for both the EA and the US. The post … system. Adverse financial shocks were less persistent for the US. The financial shocks identified by the model are consistent …The global financial crisis (2008-09) led to a sharp contraction in both Euro Area (EA) and US real activity, and was …

results suggest that financial shocks were key drivers of the 2008-09 Great Recession, for both the EA and the US. The post … system. Adverse financial shocks were less persistent for the US. The financial shocks identified by the model are consistent …The global financial crisis (2008-09) led to a sharp contraction in both Euro Area (EA) and US real activity, and was …

in each region and devise counter policy measures against future idiosyncratic shocks. In the last decade, world dynamics … mortgage crisis shock originated in the real sector (falling US housing prices) and was transmitted through trade variables … US, the shock was not significant. Resultantly, these regions exhibited a decoupling phenomenon during the subprime …

period. Our results show that Latin American equity markets seem to respond differently to shocks in the US stock markets in …

account only for about 8% of US asset price changes. The international propagation of shocks is strengthened in times of … to other domestic asset price shocks, and that there are also substantial international spillovers, both within and … across asset classes. The results underline the dominance of US markets as the main driver of global financial markets: US …

inflation and growth. It also examines international financial linkages and how the US and the euro area yield curves help to …-of-sample forecasting performance. Differences across countries are seemingly linked to market liquidity. The paper further finds that the … US and the euro area yield curves also have in- and out-of-sample information content for future inflation and growth in …

The paper analyses and compares the role that the tightening in liquidity conditions and the collapse in risk appetite … shocks have had a more severe impact on advanced economies, it was mainly the decline in risk appetite that affected emerging … empirical exercise with a Global VAR approach, the findings highlight the diversity of the transmission process. While liquidity …

performance.Differences across countries are seemingly linked to market liquidity.The paper further finds that the US and euro … inflation and growth. It also examines international financial linkages and how the US and euro area yield curves help to ….In particular, for emerging economies with exchange rates pegged to the US dollar, the US yield curve is often found to be a better …