of the economy for each shock, from most severely affected sectors to those that are effectively unaffected. Overall, we … shocks. Our main finding is that the sectors exposed to each shock are not particularly closely connected to those affected … by the other shock. These results suggest that adding the Brexit shock to that of Covid-19 brings a wider range of …

In this paper, we compare the transmission of a conventional monetary policy shock with that of an unexpected decrease … volatility, our results are two-fold: First, the spread shock works mainly through a boost to consumer wealth growth, while a … conventional monetary policy shock affects real output growth via a broad credit/bank lending channel. Second, both shocks exhibit …

reduce aggregate debt, making the economy resilient to adverse shocks. Differences in borrowing constraints and shock …

confidence shocks as the main transmission channels. Moreover the risk premium shock contributed significantly to the downturn of …

.S. output shock as it does to a corresponding euro area shock. The pivotal role of the U.S.A. in shaping the global business …

: Domestic and international responses of total credit and output to an adverse loan supply shock are substantial. They are more … pronounced than the responses to an aggregate demand shock. Under both types of shocks, total credit decreases considerably more … credit and output responses are stronger than in the country of shock origin. This is true for both types of structural …

find that a contractionary US monetary policy shock leads to a persistent fall in international output, a drop in global … negative shock to foreign real GDP growth. …