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 …

intermediation turns an otherwise diversifiable source of idiosyncratic economic uncertainty, the 'risk shock', into a systemic force …

a productivity shock are increasing in the degree of money illusion and decreasing in the degree of openness of the … economy. Furthermore we introduce a velocity of money shock revisiting the Quantity Theory of Money within the open economy …

This paper explains and evaluates the transmissions and effectiveness of monetary policy shock in a simple Cash … monetary shock and the cost channel of monetary policy. Calvo's (1983) sticky price monetary model examines the real effects of … participation monetary shock or Keynesian type of sticky price/wage, to examine the lower nominal interest rate and increasing real …

policy shock in the euro area leads to a largely similar change in the interest rate and in GDP in these other western …

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 …

significant responses to a monetary policy shock. Shocks to asset prices have a positive, significant effect on GDP and credit …