This paper studies the effect of a monetary policy shock in the euro area on the main Estonian economic and financial … effects on Estonian GDP, private consumption, corporate investment, and imports. A monetary policy shock also has strong and …

shocks and study their effects on financial variables and macro variables. The first shock resembles a conventional monetary … policy shock, and the second resembles an unconventional monetary shock. The third shock leads to an increase in interest … and uncertainty decrease, and the U.S. dollar depreciates. Therefore, this third shock combines all the characteristics of …

estimate this over-identified VAR model, I find that the policy shock transmits to real output through both the interest rate … and exchange rate channels, and the shock does not induce a departure from uncovered interest rate parity. I also find …. Finally, I find that Canadian variables significantly responds to the US federal funds rate shock, and external shocks are an …

question addresses the macroeconomic pass-through effects of a monetary policy shock, with regards to a conventional interest …

crisis within a structural VAR framework. An expansionary balance sheet shock stimulates bank lending, stabilizes financial …

the price level to a temporary risk shock are permanent. Our theoretical discussion shows that adopting a credible long …