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 …

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 …

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

tight monetary policy, which is captured with a positive shock to interest rate, decrease the exchange rate, output and … prices as the economic theory suggest. The effects of the loose monetary policy, which is captured with a negative shock to …. Moreover, as the magnitude of shock increases, the difference between the effects of tight and loose monetary policy policies …

We study the effect of a (standard) monetary policy shock in the euro area on the Lithuanian economy. We employ a … exogenous structure to account for the fact that Lithuania is a small economy. In general, we find that a monetary policy shock …