performance. This study traces how a shock or an unanticipated change in the anchor country's central bank's policy instrument, in … Vector Autoregressive model (Panel-SVAR) and annual data from 1980-2021, the findings show that a positive shock in the repo … shock in the anchor country's repo rate is followed by a significant decline in RGDP_G, a decrease in inflation, a decrease …

risk. An adverse supply shock leads to a deterioration of firms' riskiness 10 per cent above the average PD. Contractionary …